Regional BDs

The majority of job cuts are in corporate departments, with little impact to advisors or client service roles, the firm says.

It’s the latest team to exit the wirehouse as profit suffers.

The former broker allegedly also used his client’s money to pay bills at gas stations, grocery and hardware stores, according to the regulator.

Some of the recently acquired advisors will open branch offices for the growing BD.

The firm expands on both coasts with Glasband Stempel Wealth Management in Florida and Carol Wilshire in California.

This follows another August acquisition — an ex-UBS team that managed $1 billion in assets.

The move is one of the largest of the year.

The advisors staff the regional BD’s 17th office in Michigan, where it has been on a recruiting streak.

The team caters to athletes, entertainers, and entrepreneurs.

They all spent over a decade at their former firm.