Nearly three years after he was thrown out of the securities industry, the adviser has filed another appeal.
Move comes at a time when industry is struggling from new regulations.
Lobbying group's chairwoman said its biggest member firm bolted after it couldn't get a break on annual dues for large firms.
A side firm has brought a Finra arbitration claim against five of the advisers, who have filed a counterclaim in federal court.
Lebenthal Wealth Advisors opened its doors at the start of 2014 but failed to gain traction in the shifting advice marketplace.
City Financial Corp., which is being acquired by Stifel, is an independent investment bank focused on wealth management and municipal underwriting in the Midwest.
Many have either been acquired or are trying to become national firms.
As broker-dealers move toward uniform commissions to comply with Labor Department rule, investors could end up paying higher prices than in an unregulated environment. <b><i>(More: <a href="http://www.investmentnews.com/section/fiduciary-focus" target="_blank">The DOL rule from all angles</a>)</i></b>
Ex-Morgan broker Aaron Parthemer put a pair of athletes in investments that later turned out to be worthless.
