Fall of the House of Albrek
For generations, the Albrek family had provided the harbor of Neverwinter with a service delivering swift and reliable ship-to-ship and ship-to-shore messages with specially-bred and trained seagulls partnered with minor spirits bound to small waxed parchment scrolls. The success of the business elevated the family to the rank of Lords - until tragedy brought them into disrepute.
A vicious Neverwinter business rival (Draffodyl Whispybottoms, Lord of the Windmakers) employed weather-wizards and summoners to use air and water elementals to guide ships through the harbor.
Whispybottoms offered to buy out the Albrek business (for an insultingly small price) and when the family refused, he successfully put into play secretive and sadistic acts to bankrupt and ruin the Albreks, including unleashing a bird-plague (that had a side-effect of boosting the fishing industry just as he overtook the messaging service using pixies forced into service).
The Albrek's courier gulls went extinct and paying penalties on contracts with shipping companies, the family went bankrupt and lost all reputation. The head of the family, Iarno's father Iaris drank himself delirious, fell off the docks and drowned, leaving Iarno as the head and holder of the title Lord.
Iarno Albrek becomes Glasstaff
Whispybottoms continued to turn the politics of Neverwinter against Albrek, who received no assistance from the title and little from his rank as Stingblade in the Lords Alliance. Assigned to Phandalin by an old colleague from Waterdeep, Sildar Hallwinter, Iarno instead joined with the Zhentarim - recruited by Vyerith to assist Nezznar Baenre. This seemed an opportunity to gain the money and power needed to restore things in Neverwinter -- but this betrayal of his duties to the Lords Alliance enraged Sildar and further destroyed the Albrek reputation.
Iarno built up the Redbrands, with Vyerith and Halia Thornton assisting in spying on the town of Phandalin. Iarno and Vyerith became very close and conspired to return to Neverwinter after success with the Forge of Spells to restore his name. But with the loss of the Forge of Spells and its potential wealth and power, Iarno was forced to seek new contract opportunities with Vyerith. Returning to Neverwinter - his revenge plans got even further out of control, in damages to ships when he used magics to confuse the Windmakers' spirits. Iarno was then forced to flee to Waterdeep and change his identity (aided by Rian Nightshade).
(Not public knowledge) see: Alorrik Bane.
(The original story on Iarno Albrek from the Lost Mines of Phandelver - our story changed quite a bit: https://forgottenrealms.fandom.com/wiki/Iarno_Albrek)