[6] In December 1980, Cleveland placed Lambert on waivers; he became a free agent and was signed that month by the Kansas City Kings.

In February 1982, Kansas City sent Lambert to the San Antonio Spurs for a third round draft selection in 1984, plus cash.

He left in 2009 to join Neuberger Berman; in September 2010 he was promoted to the position of West Coast regional director for that company's wealth management business.

[10] Lambert left Neuberger Berman in 2014 and joined Morgan Stanley as the producing branch manager of their San Francisco, California office.

He later moved his high net worth practice to Morgan Stanley's Santa Rosa, California office;[11] he retired in February 2021.