RONALD JOSEPH MAXFIELD is currently employed as a Broker and/or Investment Adviser at LINCOLN FINANCIAL ADVISORS CORPORATION located at 326 FRANKLIN ROAD, FITCHBURG, MA, 01420.
RONALD JOSEPH MAXFIELD has worked at LINCOLN FINANCIAL ADVISORS CORPORATION since December 18, 1990
Disclosure History
RONALD JOSEPH MAXFIELD has 3 Disclosure Event(s).
Date: December 18, 1990 Category: Regulatory Initiated By: MASSACHUSETTS SECURITIES DIVISION Allegations: AN APPLICATION FOR REGISTRATION AS AN AGENTFOR RONALD MAXFIELD WAS FILED WITH THE MASSACHUSETTS SECURITIESDIVISION ON DECEMBER 18, 1990. MAXFIELD HAS NOT BEEN REGISTEREDAS AN AGENT IN MASSACHUSETTS SINCE AUGUST 2, 1990. AS PART OFHIS DICIPLINARY HISTORY, MAXFIELD HAD DISCLOSED THAT ON JULY30, 1990 HE WAS TERMINATED BY IDS FINANCIAL SERVICES BECAUSE OFHIS INVOLVEMENT IN AN OUTSIDE INVESTMENT. MAXFIELD BECAME AGENERAL PARTNER OF A LIMITED PARTNERSHIP WHEN IT WAS FORMED IN1988. HE AND THE OTHER GENERAL PARTNER LEO BURSN, SIGNED APURCHASE AGREEMENT TO BUY A BUILDING LOCATED IN FITCHBURG,MASSACHUSETTS. THE MONEY RAISED FROM LIMITED PARTNERS IN THEPARTNERSHIP FOR THE PURPOSE OF MAKING MORTGAGE PAYMENTS ON THEBUILDING WAS NOT USED FOR THAT PURPOSE. ON JUNE 16, 1990 THELIMITED PARTNERS FILED SUIT AGAINST BURNS AND MAXFIELD ALLEGINGFRAUD, BREACH OF FIDUCIARY DUTY AND VIOLATIONS OF THE STATESECURITIES STATUTE. Resolution: Consent Sanction Details: ON OCTOBER 15, 1991 THE MASSACHUSETTS SECURITIESDIVISION ISSUED AN ORDER APPROVING REGISTRATION UPONCONDITIONS, DOCKET NO. E-91-146 AFTER THE FIRM AND MAXIFELDAGREED TO CONDITIONS SET FORTH BY THE DIVISION. Broker Comment: STATE OF MA. RELEASED MY LICENSE IN OCT 1991 ONCONDITION I WOULD NOT ACT AS A PRINCIPAL IN ANY OUTSIDEACTIVITY FOR A PERIOD OF TWO YEARS, THAT I WOULD NOT SELL AWAYFROM MY BROKER DEALER AND THAT I WOULD NOT ACT IN A MANAGEMENTCAPACITY FOR A PERIOD OF TWO YEARS.
Date: July 30, 1990 Category: Employment Separation After Allegations Firm Name: I.D.S. FINANCIAL SERVICES Termination Type: Discharged Allegations: (TC90-118) CASE #2328 COMM. OF MASS.SUPERIOR COURTI BECAME A GENERAL PARTNER WITH FORMER I.D.S.AGENT, LEO BURNS (CRD#806821). BECAME AWARE OF PARTNERSHIP ANDBEGAN INVESTIGATION ON 4/27/90. INVESTORS FILED COMPLAINTAGAINST BOTH OF US ALLEGING VICARIOUS LIABILITY AGAINST ME FORACTIONS OF LEO BURNS, MISREPRESENTATION AND VIOLATION OF MASS.GENERAL 110 (A)(2). CLAIMS AMOUNT OF $800,000 HAVE BEEN FILED.BY NANCY BURNS (SISTER-IN-LAW OF LEO BURNS) AND EMMY LOU TAYLORON BEHALF ON ALL THE LIMITED PARTNERS OF WHICH THERE WERE ABOUT15. Broker Comment: AS MENTIONED ABOVE I.D.S. PAID THE LIMITED PARTNERS $820,000 THEY HAVE TOLD ME UNOFFICIALLY THAT THEY WOULD LIKE TO SETTLE WITH ME AS QUICKLY AS POSSIBLE AS THEYKNOW THAT I DID NOT SOLICIT NOR TRANSFER ANY MONIES. THEY HAVE IMPLIED THAT THEIR INTENT IS TO RELEASE MY I.D.S. ACCOUNTS AND MY HOME AND THAT THEY INTEND TO TAKE ONE HALF OF MY RETIREMENT BENEFITS. I AM WAITING TO HEAR FROM THEM AND EXPECT A FAIRLY QUICK SETTLEMENT WITHOUT COURT PROCEEDINGS. MY PARTNER, LEO BURNS FORMED A LIMITED PARTNERSHIP CALLED "THE GOLDEN SHAMROCK". I WAS A GENERAL PARTNER BUT I WAS NOT AWARE OF BURNS' ACTIONS REGARDING SOLICITATION AMOUNTS RAISED, OR DISBURSEMENT OF ANY MONIES. I BECAME AWARE OF HIS ACTIONS ONLY AFTER I.D.S. STARTED THE INVESTIGATION. MR. BURNS HAS REPEATEDLY TOLD MANY WITNESSES THAT I HAD NOTHING TO DO WITH THE PARTNERSHIP AND THAT I HAD NO IDEA OF WHAT WAS GOING ON. THE PEOPLE HE REPEATED THIS TO INCLUDE: CARL SCOTT, MY DIVISIONAL MANAGER AT IDS, GREG LESLEY, THE INVESTIGATOR FOR IDS., AND FIVE ATTORNEYS AT THE OFFICES OF BOWDITH & DEWEY, MAIN ST.. WORCESTER, MA. I DID NOT SOLICIT AND INVESTORS NOR DID I HANDLE OR MANAGE ANY OF THE MONIES RAISED. MY INVOLVEMENT WAS MERELY AS A SILENT GENERAL PARTNER.
Date: April 27, 1990 Category: Customer Dispute Allegations: I BECAME A GENERAL PARTNER WITH FORMER I.D.S.AGENT, [THIRD PARTY]. BECAME AWARE OF PARTNERSHIP ANDBEGAN INVESTIGATION ON 4/27/90. INVESTORS FILED COMPLAINTAGAINST BOTH OF US ALLEGING VICARIOUS LIABILITY AGAINST ME FORACTIONS OF [THIRD PARTY], MISREPRESENTATION AND VIOLATION OF MASS.GENERAL 110 (A)(2). CLAIMS AMOUNT OF $800,000 HAVE BEEN FILED.BY [CUSTOMER] (SISTER-IN-LAW OF [THIRD PARTY]) AND [OTHER CUSTOMER NAMED]ON BEHALF ON ALL THE LIMITED PARTNERS OF WHICH THERE WERE ABOUT15. Damage Amount Requested: $800,000.00 Settlement Amount: $60,000.00 Broker Comment: SETTLED WITH I.D.S. FOR $60,000 FOR THE CLAIMS I.D.S. PAID TO INDIVIDUAL INVESTORS. AS MENTIONED ABOVE I.D.S. PAID THE LIMITEDPARTNERS $820,000 THEY HAVE TOLD ME UNOFFICIALLY THAT THEYWOULD LIKE TO SETTLE WITH ME AS QUICKLY AS POSSIBLE AS THEYKNOW THAT I DID NOT SOLICIT NOR TRANSFER ANY MONIES. THEY HAVEIMPLIED THAT THEIR INTENT IS TO RELEASE MY I.D.S. ACCOUNTS ANDMY HOME AND THAT THEY INTEND TO TAKE ONE HALF OF MY RETIREMENTBENEFITS. I AM WAITING TO HEAR FROM THEM AND EXPECT A FAIRLYQUICK SETTLEMENT WITHOUT COURT PROCEEDINGS.MY PARTNER, [THIRD PARTY] FORMED A LIMITEDPARTNERSHIP CALLED "THE GOLDEN SHAMROCK". I WAS A GENERALPARTNER BUT I WAS NOT AWARE OF [THIRD PARTY'S]' ACTIONS REGARDINGSOLICITATION AMOUNTS RAISED, OR DISBURSEMENT OF ANY MONIES. IBECAME AWARE OF HIS ACTIONS ONLY AFTER I.D.S. STARTED THEINVESTIGATION. [THIRD PARTY] HAS REPEATEDLY TOLD MANY WITNESSESTHAT I HAD NOTHING TO DO WITH THE PARTNERSHIP AND THAT I HAD NOIDEA OF WHAT WAS GOING ON. THE PEOPLE HE REPEATED THIS TOINCLUDE: [BRANCH MANAGER], MY DIVISIONAL MANAGER AT IDS, [OTHER FIRM EMPLOYEE], THE INVESTIGATOR FOR IDS., AND FIVE ATTORNEYS AT THEOFFICES OF BOWDITH & DEWEY, MAIN ST.. WORCESTER, MA. I DID NOTSOLICIT AND INVESTORS NOR DID I HANDLE OR MANAGE ANY OF THEMONIES RAISED. MY INVOLVEMENT WAS MERELY AS A SILENT GENERALPARTNER.
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