J. Craig McIlroy: Lincoln Financial Advisor Receives $200K Complaint

Denver financial advisor J. Craig McIlroy (CRD# 1422508), also known as Craig McIlroy, recently received an investor complaint alleging six-figure damages. Records maintained by the Financial Industry Regulatory Authority indicate that he is a broker and an investment advisor with Lincoln Financial Advisors Corporation.

Mr. McIlroy’s BrokerCheck report discloses three investor complaints. The most recent, filed in December 2022, alleges that as a representative of Lincoln Financial Advisors Corporation, he “recommended an unsuitable investment in an Oil & Gas program.” The pending complaint alleges damages of $200,000.

An earlier investor complaint, filed in 2011, alleged that as a representative of Lincoln Financial Advisors, he did not disclose the true nature and risks of an investment “represented as being safe and consistent with [the claimant’s] low risk tolerance,” but which in fact was unsuitable. In 2012 the complaint reached a settlement of $228,786.

A third investor complaint, filed in 2011, alleged that he represented an investment as consistent with a low-risk, conservative, income-producing investment profile, but did not fully disclose and explain the investment strategy and associated risks. In 2012 the complaint reached a settlement of $1,179,426.

According to the Financial Industry Regulatory Authority, J. Craig McIlroy holds 37 years of securities industry experience. Based in Denver, Colorado, he has been a broker and an investment advisor with Lincoln Financial Advisors Corporation since 1998 and 1999, respectively. His past registrations include The Lincoln National Life Insurance Company (Fort Wayne, Indiana; 2002-2006), Cigna Financial Advisors (Radnor, Pennsylvania; 1998), and Mony Securities Corporation (New York, New York; 1985-1998). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He is currently licensed in Arizona, Arkansas, California, Colorado, Florida, Georgia, Idaho, Kansas, Maryland, Michigan, Minnesota, Nevada, New York, North Carolina, Ohio, Texas, Utah, Washington, Wyoming.  (Information current as of January 10, 2023.)

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