Last Updated: October 2025 — Newton, MA
Here’s what you need to know about Newton, MA stockbroker Ronald David Birnbaum:
- Name: Ronald David Birnbaum
- Current Employer: Not currently registered with a FINRA-member broker-dealer (former broker)
- Prior Firms: Advisory Group Equity Services Ltd. (Newton, MA) 08/2001–02/2021; Equity Services, Inc. (Montpelier, VT) 11/1998–08/2001; Guardian Investor Services Corp. (New York, NY) 09/1994–11/1998; MML Investors Services, Inc. (Springfield, MA) 05/1994–07/1994; New England Securities (New York, NY) 09/1993–01/1994
- Other Business Affiliations: Shawmut Benefits Group (sales; Norwood, MA) 04/1992–Present; sells insurance products & real estate; participates on an “Estate Planning Team” marketing/selling Deferred Sales Trusts (~20 hrs/week since 06/14/2014)
- CRD number: 2382580
- Stockbroker / Financial Advisor. Former FINRA-registered broker; not currently registered.
- Can Broker be Sued in FINRA: Yes — multiple pending FINRA arbitrations are reported.
- Highest Award of Settlement: $50,000 (settled 09/21/2016; FINRA Arbitration No. 16-00791)
- Current Customer Dispute Seeks Total Damages of: $730,454 across pending arbitrations (FINRA Case Nos. 22-0210 – $455,453.83; 20-22786 – $200,000; 20-01196 – $75,000).
If you’ve sustained damages from Mr. Birnbaum, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Ronald D. Birnbaum As Your Stockbroker?
Mr. Birnbaum’s BrokerCheck report lists seven customer disputes (four settled; three pending at the time of the report). Below are key matters, including filing dates, case numbers, and dollar amounts:
- Pending (filed Sept. 14, 2022): FINRA Arbitration No. 22-0210 — client alleges unsuitable investments in Direct Investment/DPP & LP Interests while at AGES Financial Services/Advisory Group Equity Services; alleged damages $455,453.83.
- Pending (filed Mar. 9, 2020): FINRA Arbitration No. 20-22786 — failure to provide suitable due diligence, over-concentration, suitability; alleged damages $200,000.
- Pending (filed Apr. 13, 2020): FINRA Arbitration No. 20-01196 — suitability related to a Direct Investment/Interval Fund; alleged damages $75,000.
- Settled (filed May 14, 2020): FINRA Arbitration No. 20-01535 — suitability in Direct Investment/DPP & LP Interests; settled $47,000 on 06/24/2021 (no individual contribution).
- Settled (filed Mar. 17, 2016): FINRA Arbitration No. 16-00791 — unsuitable investments, lack of supervision, breach of fiduciary responsibility in DPP/LP/Oil & Gas/TIC; settled $50,000 on 09/21/2016.
- Settled (filed Jan. 24, 2013): FINRA Arbitration No. 13-00153 — unsuitable investment in DPP/LP; settled $45,000 on 03/11/2013 (individual contribution $22,500).
- Civil Litigation (State Court, Suffolk County; Case No. 1884CV02523): Investment in a 2009 private placement corporate bond later tied to a reinsurer bankruptcy; matter evolved into civil litigation with litigation pending as of 01/14/2019.
Allegations of Broker Misconduct Against Ronald David Birnbaum
- Unsuitability / Over-Concentration — multiple disputes allege unsuitable recommendations and excessive concentration in alternative investments (e.g., DPPs/LPs, real estate, oil & gas, interval funds). These allegations, if proven, implicate FINRA Rule 2111 (Suitability) requiring that recommendations align with a customer’s risk profile and investment objectives.
- Failure to Conduct Reasonable Due Diligence — several claims cite inadequate product diligence and risk disclosure for complex/illiquid offerings; this is often evaluated under FINRA Rule 2111 and FINRA Rule 2010 (Standards of Commercial Honor).
- Lack of Supervision — at least one settled matter references “lack of supervision,” potentially implicating FINRA Rule 3110 (Supervision) obligations at the firm level.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Ronald David Birnbaum, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis, meaning that you do not pay legal fees unless we are successful.