KENNETH LOUIS GOLDHOFF is currently employed as a Broker and/or Investment Adviser at UBS FINANCIAL SERVICES INC. located at THE TOWERS AT KENWOOD, 8044 MONTGOMERY ROAD, Ste. 100W, CINCINNATI, OH, 45236.
KENNETH LOUIS GOLDHOFF has worked at UBS FINANCIAL SERVICES INC. since February 09, 2007
Disclosure History
KENNETH LOUIS GOLDHOFF has 2 Disclosure Event(s).
Date: March 26, 2013 Category: Customer Dispute Allegations: CLIENT ALLEGES HER FINANCIAL ADVISOR GAVE HER INCORRECT INFORMATION TO MAKE HER FINANCIAL DECISIONS. TIME FRAME: AUGUST 1, 2012 TO AUGUST 30, 2012. Broker Comment: THE CLAIMANT WAS A CLIENT OF MINE FOR MANY YEARS AND DECIDED TO MOVE THE BULK OF HER QUALIFIED ASSETS TO A NEW FIRM IN 2011. LAST SUMMER SHE CONTACTED ME TO CONFIRM THE SALES CHARGE EXPIRATION (CDSC) BECAUSE SHE WISHED TO SURRENDER HER TWO ANNUITIES. CLAIMANT HAD EXCHANGED THE ORIGINAL ANNUITY SHE PURCHASED OVER 13 YEARS AGO FOR THE TWO SHE HELD WITH ME. NEITHER THE UBS STATEMENT NOR GENWORTH'S STATEMENT REFLECTED THE ORIGINAL COST BASIS FROM THE ORIGINAL ANNUITY PURCHASE THAT WAS ULTIMATELY 1035'D INTO THE TWO NEW CONTRACTS. HOWEVER, THE ENTIRE PURPOSE OF A 1035 EXCHANGE IS TO AVOID TAKING THE GAIN AT THE TIME OF THE 1035 EXCHANGE. IT IS A DEFERRED GAIN. WE DO NOT RENDER TAX ADVICE, NOR DID SHE ASK ME FOR ANY OPINION AT ALL WHEN SHE DIRECTED ME TO SEND HER THE LIQUIDATION PAPERWORK. SHE GAVE ME INSTRUCTIONS TO SELL. SHE HAS BOTH AN ACCOUNTANT AND AN ATTORNEY THAT SHE WORKS WITH AS WELL AS A NEW ADVISOR.
Date: December 30, 2009 Category: Customer Dispute Allegations: TIME FRAME: JANUARY 2007 TO OCTOBER 27, 2008THE CLIENT ALLEGES THAT HER FINANCIAL ADVISOR FAILED TO ADVISE HER THAT SHE WOULD INCUR A 10% FEDERAL TAX PENALTY FOR AN EARLY WITHDRAWAL ON HER ANNUITY. THE CLIENT FURTHER ALLEGES THAT HER FINANCIAL ADVISOR FAILED TO ADD AND THEN TIMELY SUBMIT THE PAPERWORK REQUIRED TO ADD THE RIDER TO HER ANNUITY AS INSTRUCTED. THE CLIENT FINALLY ALLEGES THAT HER FINANCIAL ADVISOR SHOULD NOT HAVE STARTED 72Q DISTRIBUTIONS ON A DEFERRED ACCOUNT AND WAS NOT ADVISED THAT THERE WAS A FIXED INCOME SUB ACCOUNT WHICH WOULD HAVE LOCKED IN A 4% RATE OF RETURN. THE ALLEGED DAMAGES ARE IN EXCESS OF $5,000.00
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