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GWG Complaint Against McDaniel Corporation’s Craig McDaniel
An investment in GWG Holdings forms the basis of a recent investor complaint against Craig McDaniel (CRD# 1087979). Financial Industry Regulatory Authority records show that the Columbia, South Carolina advisor is a representative of The McDaniel Corporation, which offers securities through Capital Investment Group.
Complaint Alleges Unsuitable Investments
Mr. McDaniel’s BrokerCheck report discloses one investor complaint. Filed in October 2022, it alleges that as a representative of Capital Investment Group, he recommended an unsuitable investment in GWG Holdings. (More information about GWG Holdings, which reportedly raised more than $1 billion from investors in its L bonds, products filed for Chapter 11 bankruptcy, and is under investigation by the SEC, is available via this resource.) The pending complaint alleges damages of $270,000.
McDaniel Corporation Offers “Range of Financial Services”
According to the website for The McDaniel Corporation, Mr. McDaniel is the firm’s president and supervisor. Located in Columbia, the firm provides “a wide range of financial services,” according to the website, including retirement income planning, investment analysis and planning, risk management, and estate planning. It “has a professional staff of dedicated, experienced, knowledgeable, and highly competent personnel who are trained and licensed financial advisors to offer a broad range of financial planning services” working under the supervision of Mr. McDaniel, whose profile page describes his specialization in retirement planning, insurance, investments, and tax reduction strategies. “He utilizes his experience and educational background to now practice strictly as a Certified Financial Planner,” the profile states. “Craig is also licensed in securities, fixed and variable annuities, and life, disability and long term care insurance. Craig is interested in building long term relationships.”
FINRA: McDaniel Based in Columbia, South Carolina
According to the Financial Industry Regulatory Authority, Craig McDaniel holds 39 years of securities industry experience. Based in Columbia, South Carolina, he has been registered as a broker with Capital Investment Group since 2004 and as an investment advisor with Capital Investment Advisory Services since 2009. He is a representative of The McDaniel Corporation, which offers securities through Capital Investment Group. Over the course of his career, he has also worked with firms including CIC Advisers, WC Smith & Company, and Royal Alliance Associates. Having passed four securities industry exams, he currently holds 34 state licenses. (Information current as of November 23, 2022.)
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