Last Updated: February 2025, Highlands Ranch, CO
J. Craig McIlroy Investigation Summary
Here’s what you need to know about Highlands Ranch, CO, stockbroker J. Craig McIlroy:
- Name: Mr. J. Craig McIlroy
- Current Employer: LPL Financial LLC
- DBA: McIlroy Financial Group , Gladstone Wealth Partners
- Prior Employers: OSAIC FA, Inc., The Lincoln National Life Insurance Company, CIGNA Financial Advisors, Inc., MONY Securities Corp.
- Function: Stockbroker / Registered Investment Advisor (RIA)
- Aliases: Craig McIlroy
- Primary Location: Highlands Ranch, CO
- CRD#: 1422508
- Can J. Craig McIlroy be sued in FINRA arbitration? Yes
- Sanctioned by FINRA? No
- Highest Settlement or Award: $1,179,426
- Two Pending Customer Disputes Seek Damages of: $150,000 (oil and gas)
If you’ve sustained damages from Mr. McIlroy, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With J. Craig McIlroy As Your Stockbroker?
A customer of Lincoln Financial Advisors Corporation was paid $1,179,426 in June 2012 to resolve allegations that J. Craig McIlroy recommended unsuitable private placement annuities while failing to disclose the true risks of the investment.
Another Lincoln Financial customer received a $228,786 settlement in June 2012 regarding similar allegations related to private placement annuities and a third Lincoln Financial customer was paid $133,500 in 2023 to resolve allegations that McIlroy recommended unsuitable oil and gas in investments.
There are two currently pending cases, brought by Lincoln Financial customers, alleging that McIlroy recommended unsuitable oil & gas investments. Cumulative damages of $150,000 are sought in those arbitrations.
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally higher risk. For more investigations involving Alternative Investments, see this.
Allegations of Broker Misconduct Against J. Craig McIlroy
Customers of J. Craig McIlroy have alleged the following misconduct in connection with the handling of investment accounts:
- Unsuitable Investment Recommendations: Clients allege that McIlroy recommended high-risk investments, including oil & gas programs and private placement annuities, which were not appropriate given their risk tolerance. (Violates FINRA Rule 2111 – Suitability Standard).
- Misrepresentation and Omission of Material Facts: Customers claimed that McIlroy failed to fully disclose the risks associated with the investments, leading them to believe they were making low-risk investments. (Violates FINRA Rule 2020 – Use of Manipulative, Deceptive, or Fraudulent Devices).
- Failure to Conduct Due Diligence: Allegations indicate that McIlroy did not adequately research the investments before recommending them to clients. (Violates FINRA Rule 3110 – Supervision).
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints, disputes, and regulatory sanctions. Additionally, brokers must disclose certain financial matters such as bankruptcies, judgments, and liens.
See this for more information on REITs and Other Alternative Investments
Recover Your Investment Losses Now With Rex Securities Law
Our investigations of other Lincoln Financial Securities brokers
Investigation of LPL Financial and LPL Brokers-Lawsuits, Arbitrations & Customer Disputes
If you have suffered investment losses in an account handled by J. Craig McIlroy, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis, meaning that you do not pay legal fees unless we are successful.