Glazer was born as the fifth of seven children of Lithuanian Jewish immigrants in Rochester, New York. He inherited his father's wholesale jewelry business. The business first expanded into property, buying several mobile home (or "trailer") parks in the 1970s, mainly in the Florida area. He went on to become president and chief executive officer of First Allied Corporation, a United States holding company for his various business interests, such as food processing, marine supplies, health care, real estate, energy exploration, and broadcasting.