The lengthy public estate dispute between the late Robin Williams’ wife, Susan, and his three children from a previous marriage came to an end on Friday. The New York Daily News reports that the sides have reached a settlement agreement. Though details of the agreement aren’t fully available, Susan’s attorney notes that she’ll be allowed to remain in the San Francisco home she shared with Williams and receive living expenses for the rest of her life (the major points of contention in the dispute). She’ll also receive several personal items that were lesser points of conflict, including a watch, a bicycle and their wedding gifts. A representative for the children offered, “I think they’re just very happy to have this behind them.”
Focus Financial recently added a Georgia-based RIA with $525 million in assets, expanding the aggregator’s foothold in the Southeast. Founded in 2003, Patton Albertson & Miller (PAM) has 16 employees spread across three offices in Chattanooga, Atlanta and Macon, Ga., according to the firm’s filing with the Securities and Exchange Commission. PAM is the third Georgia-based advisory firm to join Focus as a partner in the past year. “The Southeast region will continue to be an important geographic market for Focus and we are thrilled to add another high quality firm to the Focus family,” Rudy Adolf, founder and CEO of Focus, said Monday.
Fraud in Florida
The Securities and Exchange Commission is charging Florida-based advisor Arthur Jacob for defrauding his clients over a period of five years. The SEC alleges Jacob misrepresented the risks and profitability of ETFs he recommended and gave false information to a brokerage firm about the services he provided in order to retain trading authorization over accounts and collect fees. Jacob apparently did not register his firm, Innovative Business Solutions, with the SEC or any state. Jacob was a former lawyer who was disbarred for misappropriating client funds, a fact the SEC claims Jacob concealed from his clients.