The Compound and Friends

Joe Moglia on the State of the Brokerage Industry

May 24, 2024
Former CEO of TD Ameritrade and football coach Joe Moglia joins to discuss his transition from coaching to Wall Street, the brokerage industry, Nvidia's future, meme trades, college athletics, and more. The podcast covers leadership, stock splits, industry dynamics, geopolitical uncertainty, crypto politics, AI concerns, and insights on leadership and pursuits.
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ANECDOTE

From Bronx Hustle To Coaching Leadership

  • Joe Moglia grew up in a tough Bronx neighborhood and worked multiple jobs while attending Fordham to support his family.
  • Playing and then coaching football rescued him from a dangerous path and launched his leadership journey into Wall Street.
ANECDOTE

Sleeping Above The Football Office

  • Moglia described living above football offices in an unheated storage room after a divorce while coaching at Dartmouth.
  • That hardship preceded his jump into Merrill Lynch's MBA training program and later executive roles.
INSIGHT

Brokerage Is A Tech Business First

  • Moglia realized Ameritrade was a technology company wrapped in financial services, not the reverse.
  • He refocused the firm on transaction processing and invested heavily in trading infrastructure to survive and scale.
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