Steven Syslo: UBS Advisor Faced Misappropriation Complaint

A recent, denied investor complaint against Paramus, New Jersey financial advisor Steven Syslo (CRD# 4308992) alleged that he stole funds from a customer’s account. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with UBS Financial Services.

Mr. Syslo’s BrokerCheck report discloses three investor complaints. The most recent, filed in 2024, alleged that as a representative of UBS Financial Services, he colluded with a customer’s ex-husband and stole money from her account, and that he received a kickback from the customer’s ex-husband. The complaint alleged unspecified damages and was denied by the firm.

An earlier investor complaint, filed in 2020, alleged that as a Morgan Stanley representative, he misrepresented investments in energy securities. The complaint reached a settlement of $34,203.

A third investor complaint, filed in 2018, alleged that as a representative of Morgan Stanley, he recommended unsuitable mutual fund investments. In 2020 the complaint reached a settlement of $19,000.

Morgan Stanley’s website includes a page dedicated to Kreshpane Wealth Management, the internal practice of which Mr. Syslo is a member. “With the complexity of today’s markets and uncertainty about tomorrow’s economy, good financial advice is more important than ever,” states a section describing the practice’s mission and approach. “Our mission is to provide quality strategies customized to your needs. Our goal is to be your primary source of financial advice. To this end, we concentrate our efforts on developing long-term relationships through a commitment to quality client service.”

According to the Financial Industry Regulatory Authority, Steven Syslo holds 23 years of securities industry experience. Based in Paramus, New Jersey, he has been registered as a broker and an investment advisor with UBS Financial Services since 2016. His past registrations include Morgan Stanley (Ridgewood, New Jersey; 2009-2016), Morgan Stanley & Company (Ridgewood, New Jersey; 2008-2009), Spear Leeds & Kellogg Specialists (New York, New York; 2002-2007), and Walter N. Frank & Company (New York, New York; 2000-2002). His credentials include the passage of six securities industry qualifying exams: the NYSE Trading Assistant Examination, or Series 25; the NYSE Front Line Specialist Clerk, or Series 21; the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; the Futures Managed Funds Examination, or Series 31; and the General Securities Representative Examination, or Series 7. He holds 30 state licenses. (Information current as of December 30, 2024.)

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