The Jon Schultz Podcast: The Myth of Overnight Success

Jun 9, 2023

Hustling Your Way to CEO with Rich Daly

Rich Daly is the executive chairman of Broadridge Financial Solutions, a global fintech company that is part of the S&P 500 index. He was named the 2019 NACD Director, SHIP 100, which recognizes influential individuals in the boardroom and corporate governance. Additionally, he serves as the chair of the SIFMA Foundation, a financial literacy program benefiting 600,000 students annually through a simulated stock market game. Daly's journey to success began in a working-class area of Queens, where he displayed his ambitious nature from a young age. He started hustling early on, taking up odd jobs like mowing lawns and cleaning gardens. At just nine years old, he even forged working papers to become a Newsday Carrier of the Year, but his actions caught up with him when he was caught using someone else's identity. Realizing that hustling alone wouldn't take him where he wanted to go, Daly shifted his focus to education during high school. Despite the prevalent drug abuse culture, he excelled academically at Christ the King in Middle Village, becoming the top student in his class. His dedication paid off as he secured a full scholarship to college and encountered influential mentors who helped shape his path. While in college, Daly worked for his wife's best friend's father, who imparted valuable lessons about understanding people and life. Initially pursuing a computer science major, Daly shifted to marketing after being told there were no jobs in computer science then to accounting after he was told that it was a profession that offers job security. He acknowledged his proficiency in math and embraced his natural talents as an extrovert and salesman. Daly's career path led him to become an accountant, and he secured a job with New York Arthur Anderson by hustling his way onto the interview list for accounting firms visiting his college. Daly was driven by the goal of becoming a partner within six and a half years. He excelled in his position and developed a reputation for uncovering fraud, demonstrating his sharp instincts. During his tenure, he demonstrated his dedication by striving to have the most chargeable hours in the New York office. Daly's professional journey involved encountering challenges, such as being initially denied promotion and transitioning between firms. However, he eventually founded his own proxy service business and embraced the opportunity to control his own destiny. Transitioning from a small player to a powerful figure, he spearheaded the growth of Broadridge Financial Solutions over a period of 40 years. Throughout his career, Daly prioritized building a strong organizational culture and fostering employee engagement. He believes in the service-profit chain, where highly engaged employees lead to satisfied customers who, in turn, drive business success. Daly emphasizes the importance of clear feedback and accountability in leadership, valuing honesty and transparency in all interactions. As an advocate for diversity and inclusion, Daly values individuals based on their abilities and work ethic rather than factors such as race, creed, or gender. He emphasizes the need to create an inclusive environment where everyone feels valued and has the opportunity to thrive. Tune in to this podcast episode featuring an in-depth conversation with Rich Daly. His story is one of perseverance, adaptability, and a commitment to integrity. Through his leadership at Broadridge and his dedication to employee engagement, he has established himself as a respected figure in the financial industry. Don't miss out on this insightful episode!

52 min