Haselkorn & Thibaut, P.A., operating as Investment Fraud Lawyers, has opened a formal investigation into Craigg McRae (CRD# 4697209), a former Wells Fargo Advisors Financial Network broker based in Williamsville, NY. Our dedicated team of former Wall Street defense attorneys brings 95+ years of collective securities law experience, a documented 98% success rate, over $520 million at issue in securities matters, consistently top-tier peer ratings, and a commitment to recover your funds. If you have concerns regarding discretionary trading or unauthorized activity in your investment accounts by Craigg McRae or any Wells Fargo Advisors-affiliated representative, we strongly encourage you to contact us for a free, confidential consultation at 1-888-885-7162.
About Craigg McRae and His Registration History
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Craigg McRae is a financial advisor with nearly two decades of experience in the securities industry. Below is a summary of his registration history, focusing on his tenure at major firms:
| Firm | CRD # | Years | Location |
|---|---|---|---|
| Wells Fargo Advisors Financial Network, LLC | 11025 | 2014–2024 | Williamsville, NY |
| Edward Jones | 250 | 2003–2014 | — |
As of the most recent disclosures, Craigg McRae is registered as an investment adviser only, with no current active broker registration and no state licenses. To verify his current status, investors can view his BrokerCheck profile.
FINRA Investigation: Unauthorized Discretionary Trading Allegations
According to a FINRA Letter of Acceptance, Waiver, and Consent (AWC) released in June 2026, McRae consented to sanctions addressing serious regulatory findings, without admitting or denying the allegations. Key findings from the investigation include:
- Exercised discretion in at least six customer accounts without obtaining required written authorization.
- Placed trades in these accounts without directly communicating with clients on the trade dates.
- His use of discretion included deciding which securities to buy or sell, not just the price or timing.
- Firm records revealed he inaccurately represented his conduct on annual compliance questionnaires.
Discretionary authority, when granted informally or without following proper protocols, can expose investors to unnecessary or excessive risks. FINRA’s enforcement of written authorization requirements is designed precisely to protect investors from those risks.
Sanctions and Regulatory Actions
- $5,000 fine imposed by FINRA.
- 15-day suspension from associating with any FINRA member firm, running from June 30, 2026 through July 14, 2026.
In addition to FINRA’s formal action, Wells Fargo Advisors Financial Network discharged McRae in September 2024 for allegations connected to the same conduct, including unauthorized discretion and mismarked trade confirmations. It is important to note that these termination allegations have not been independently adjudicated; they represent the firm’s internal findings and contractual exercise of disaffiliation rights.
Why Unauthorized Trading Is a Major Red Flag
Brokers are legally required to obtain your written consent—and the firm’s approval—before making trades on your behalf in a discretionary account. Anything less not only violates FINRA rules but also undermines the core protections investors count on. Even if you verbally agreed to let your broker “handle it,” informal arrangements do not meet regulatory standards.
You deserve clear communication, transparency, and documented authority regarding every action in your account. When these standards are not upheld, the risk of unsuitable or excessive trading increases, placing your investment and financial security in jeopardy.
Summary of Complaints and Red Flags Against Craigg McRae
Based on our independent review of FINRA, SEC, and public court records as of today’s date, we found:
- Two regulatory disclosure events listed on his FINRA BrokerCheck record following the recent FINRA action and termination from Wells Fargo Advisors Financial Network.
- Allegations of exercising unauthorized discretion in customer accounts.
- Allegations of submitting inaccurate information on annual compliance questionnaires regarding his trading practices.
- Employment separation from Wells Fargo Advisors amid regulatory concerns involving discretionary trading practices and mismarked trade confirmations.
At this time, we have found no reported customer-initiated arbitrations, lawsuits, SEC or state-level enforcement matters, or public customer complaints against Craigg McRae. There are no settlements, restitution orders, or administrative findings involving him in court dockets or media outlets. However, the lack of lawsuits does not rule out the possibility of investor harm, especially in cases where clients may not yet have discovered unauthorized trades or realized the impact on their portfolios.
What Should Williamsville, NY Investors Do If They Suspect Losses?
If you suspect unauthorized trading or Discover losses that you did not approve in your account managed by Craigg McRae at Wells Fargo Advisors Financial Network, you have rights. Our attorneys leverage their former Wall Street defense insight to investigate every aspect of suspicious activity and pursue recovery on your behalf. No recovery, no fee. Every case and complaint receives thorough, experienced attention—not mass processing.
Signs that may indicate you should have your account reviewed include:
- Trades appearing in your account that you do not recall authorizing.
- Unexplained losses or higher-than-expected risk exposure.
- Lack of documentation showing your written authorization for discretionary trading.
- Limited or inconsistent communication from your advisor.
It is often possible to recover losses from unauthorized trading through FINRA arbitration. Our attorneys regularly represent investors nationwide in claims against large broker-dealers, with decades of combined experience fighting for clients harmed by unauthorized or unsuitable trading.
How Our Team Can Help
Our attorneys have built a reputation as Top 2% peer-reviewed, Super Lawyers-designated securities fraud advocates with 5.0-star client reviews. We combine seasoned former defense experience with compassionate advocacy to ensure investors have a true ally in their recovery journey. Our dual focus: Hold negligent advisors and firms accountable, and help you recover your lost funds.
Call for a Free Consultation
If you invested with Craigg McRae, Wells Fargo Advisors, or another affiliated broker and have concerns about unauthorized trading or losses, we urge you to take action today. Contact our attorneys for a free, confidential review at 1-888-885-7162. There is no cost unless we recover your funds. Every consultation is private, with no obligation—we are here to advocate for your financial future.
