As Ference aged and took on more jobs, he began to question himself about who he was, what he wanted and where he expected to go in his life. He was forever grateful to the dwarves who took him in and raised him, but as a human there were many ways in which he could never fit into dwarf society. It was part of what drove him down out of the mountains to meet other humans.
Unfortunately, as an outsider, they considered him strange and untrustworthy, so that even when he looked like everyone else, he still couldn't fit in. So he found the cracks between the two societies and learned to live on the fringe.
He began to feel used and torn. The humans wanted him to loot and pillage his dwarven heritage for their profit, and yet the only acceptance he could find in society seemed to be tethered to his past. Gradually, he came to the conclusion that no one truly cared about him or the lost ruins other than him. He began taking jobs to pay for his journeys, then using the journeys to liberate everything he could for himself. The dwarves cared more for their legends than their lost treasures, and the men only wanted money and power, so he gave them a taste of what they sought, and kept as much as he could. But for him, he developed an attitude that he was the guardian of a past that only he believed in. He became a one man museum.
Museum house artifacts, and that takes up space. Trensal found an unknown dwarven ruin that wasn't in any of the legends he'd heard as a child, and secured it for himself as an elaborate residence, and a monument to the heritage of his adopted race. As he began acquiring items in earnest, he took fewer jobs and started to become obsessed with treasure hunting.
One man always treated Ference with respect and understanding, and Ference, in turn, remained open to him when he sought help from the ranger. About a year ago, the man had come to Ference asking for a special recovery. He was a member of an ancient, secret society that sought to understand and study dragons. There were long standing rumors within the society of a particular magic weapon created by the dwarves that they wished to recover. They said little to him of what the item was (claiming that info was lost to legend), and carefully steered away from saying why they valued it so highly. He told Ference it had some connection to a dragon in its creation, and they wished to study it and keep it safe.
Ference was nobody's fool and wondered what the real purpose for recovering the item was, but he felt a connection to the man, and was willing to accept his offer. It also piqued his interest. Here was another legendary dwarven item that he had not heard about. He spent two months scouring dwarven archives at scattered settlements, and started to piece together the Legend of Rain Thana. He didn't see the connection to dragons, other than the dragon heart used in its creation, but that was someone else's politics, so he put those thoughts aside.
When he encountered our party earlier in the story, he was making his way to a meeting with a local dragon cult connected to the society he was working for. He had located the axe and tracked it to the area. Only after meeting you and recovering the axe did he realize the kobold dragon cult were the movers behind the whole recovery. He was able to escape them, but without the weapon, so he followed you as quickly as he was able, eventually catching back up with you outside Aron's Bowl.
Unsure of where your loyalties lie, and worried about his own, as well as those of the cultists, he has been waiting for an opportunity to relieve the party of the item and take it to the cult headquarters, which he has learned are on the slopes of the volcano west of the murky path ahead. He plans to deliver the item as contracted, and then to liberate it to his personal collection.
There is an opportunity to subdue Ference and reason with him, either to assist you with your quest, or to use the item himself rather than turn it over to anyone else. Ference is not an enemy to their quest, but he is extremely independent and self-confident. This makes him unwilling or unable to trust many, and given that the one friend he thought he could trust might be behind the dragon cult increases his anxiety.