Haselkorn & Thibaut, P.A., operating as Investment Fraud Lawyers, has opened an investigation into Craigg McRae (CRD #4697209), a financial advisor formerly with Wells Fargo Advisors Financial Network, LLC in Williamsville, NY, regarding allegations of unauthorized trading and regulatory findings. Our experienced attorneys are committed to helping investors understand the potential risks and recover losses suffered due to improper management or violations of securities regulations.
Our firm is comprised of former Wall Street defense attorneys who use insider knowledge to advocate for investors. With a 98% success rate across hundreds of investor claims, 95+ years’ combined experience in securities law, and involvement in cases totaling over $520 million, we are a strong choice for those seeking recovery. We hold a Top 2% Martindale-Hubbell AV Preeminent rating, have been recognized as Super Lawyers, and have earned consistent 5.0-star client reviews—and no recovery, no fee.
Craigg McRae: Background & Registration
Table of Contents
Craigg McRae is an investment professional with approximately 20 years in the securities industry. According to FINRA BrokerCheck, McRae was registered with:
- Edward Jones (CRD #250) from 2003–2014
- Wells Fargo Advisors Financial Network, LLC (CRD #11025) from 2014 until his discharge in 2024
As of June 2024, McRae is no longer a registered broker and is registered only as an investment adviser. His licensure history and records serve as a foundational step in investor due diligence and recovery options.
Regulatory Red Flags: FINRA’s Findings on Unauthorized Trading
On June 30, 2026, FINRA issued a Letter of Acceptance, Waiver and Consent (AWC) concluding that Craigg McRae exercised discretion in six customer accounts without required written authorization. Key elements of this violation include:
- Placing trades without speaking to customers on trade dates, exceeding regulatory and firm requirements
- Failure to obtain written authorization from customers to treat their accounts as discretionary
- The firm, Wells Fargo Advisors Financial Network, never formally accepting these accounts as discretionary
- Exercising discretion that included decisions on what securities to buy or sell, and trade quantities, not merely price or timing
- Inaccurately reporting on a compliance questionnaire that he had not used discretion in client accounts
While customers may have informally known McRae was acting on their behalf, industry rules are clear: both written customer authorization and firm approval are necessary for discretionary account management. Violations can put investors at risk for unsuitable trades or losses stemming from unvetted activity.
Sanctions & Firm Discharge: What Happened Next?
| Sanction | Details |
|---|---|
| Fine | $5,000 |
| Suspension | 15 days, from June 30, 2026 through July 14, 2026 (applicable to all FINRA member firms) |
| Termination from Wells Fargo Advisors | Discharged on September 13, 2024 for alleged use of discretion in trading and mismarked trade confirmations |
It is important to note that the termination allegations by Wells Fargo Advisors remain allegations and have not been independently adjudicated. However, they are significant for anyone reviewing McRae’s conduct and potential impact on client accounts.
Disclosures & Complaints: What’s on Record?
Investors often look at official disclosures to measure a financial advisor’s track record. As of June 2024, McRae’s BrokerCheck record shows:
- No customer-initiated complaints or arbitrations filed against McRae
- No compensatory awards or settlements involving his clients
- No SEC enforcement orders, state regulator actions, or criminal charges related to securities activities
This may indicate that, to date, affected clients have not initiated formal action, or they may be unaware of their rights and potential damages. Regulatory findings can be a red flag even when no client complaints have been submitted—investors should not hesitate to take proactive steps if they feel their interests were compromised.
Understanding Discretionary Trading & Your Rights
Brokers may not exercise full discretion over a customer’s account without written authorization and the firm’s approval. Even if you verbally agree or have implicit trust, industry rules are designed to prevent unsuitable or excessive trading on your behalf. When these are violated, you may suffer financial harm or miss recovery opportunities.
Examples of unauthorized trading abuses can include:
- Trading securities that do not fit your risk profile
- Selling without your consent, potentially realizing avoidable losses
- Piling on commissions or fees through repeated, unapproved trades
If you suffered losses as a result of trades made without your express written approval, recovery is possible through FINRA arbitration. Our attorneys have handled hundreds of these cases and can assess your personal circumstances in detail.
How Our Firm Can Help You
Haselkorn & Thibaut is currently investigating all trading, account management, and supervision issues associated with Craigg McRae, Wells Fargo Advisors Financial Network, LLC, and related entities. If you worked with McRae in Williamsville, NY or elsewhere, and believe your account was mishandled or trades were conducted without proper authorization, you may be entitled to recover funds and investment losses.
We use our former defense experience to identify every avenue for recovery and ensure individual investors do not face powerful financial institutions alone. Our insider knowledge allows us to fight not just for compensation, but for accountability and future protection.
Step-by-Step: Verify & Monitor Your Advisor’s Status
- Visit BrokerCheck and search “Craigg McRae” or use CRD #4697209 for in-depth registration details.
- Carefully review the “Disclosures” section for the most up-to-date information.
- Sign up for FINRA’s free e-alerts to monitor for new regulatory actions or changes.
For thorough due diligence, consider searching for McRae in federal and state court records and state securities databases. Not all disputes appear on BrokerCheck or are immediately public.
Contact Us for a Free, Confidential Consultation
If you have concerns about unauthorized trading, losses, or red flags in your account managed by Craigg McRae or at Wells Fargo Advisors Financial Network, LLC, we encourage you to seek answers and explore your options for recovery. Our attorneys offer free, no-obligation case reviews nationwide.
Call us now at 1-888-885-7162 for a free consultation and let our experience work for you.
Remember: No recovery, no fee. You do not pay us unless we help you recover your investment losses.
