Allegations Against Michael Schoolcraft

In June 2026 FINRA requested documents and information from Schoolcraft during its investigation.  The investigation started after Schoolcraft was terminated by MML Investors Services regarding “personal loan transactions” with customers.  Generally, financial advisors cannot borrow money from customers, with limited exceptions.  After Schoolcraft refused to cooperate with FINRA’s investigation, he was barred from the securities industry.

Background on Michael Schoolcraft

Michael Schoolcraft was licensed with MML Investors Services from May 2016 to May 2026.   He worked in a Lisle, Illinois office.  He also had insurance licenses through Mass Mutual Life Insurance Company.

Is MML Investors Services Potentially Liable for its advisors’ Conduct?

FINRA standards provide that brokerage firms like MML Investors Services must reasonably supervise the activities of their financial advisors.   Firms that fail to do so could be responsible for investor losses. 

Israels & Neuman Helps Investors in Illinois

We represent investors throughout the United States including Illinois, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud.  Attorney David Neuman is licensed to practice law in Illinois and grew up in the western suburbs of Chicago.  If you were a client of Michael Schoolcraft and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Schoolcraft’s BrokerCheck Report
• View Schoolcraft’s FINRA AWC

Contact Israels & Neuman for a Free Case Evaluation

Call us today at (720) 599-3505 or (206) 795-5798 or fill out our contact form to learn more about your rights. We regularly represent Illinois investors and are ready to help you recover the money you deserve.