For a man who had risen from nothing to make it big on Wall Street and eventually grow TD Ameritrade into a multibillion-dollar company, Joe Moglia's re-entry into college football wasn't quite the slam-dunk he envisioned.
In Moglia's mind, every experience and skill he had accumulated in the 25 years since leaving a low-paying job as Dartmouth's defensive coordinator should have made him even more attractive as a coaching candidate and proverbial leader of young men. But as he soon discovered after stepping down as TD Ameritrade's CEO to pursue college coaching jobs, athletics directors and school presidents either dismissed him completely or viewed him as a risk not worth taking.
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'If you did your homework I think you'd have concluded I not only had the skill sets required of a college coach, but I might have a competitive advantage,' Moglia said in a phone interview. 'The vast majority of people never took the time to do that type of analysis. That's true of most executives in the business world, too. There's not another example of me; most people need precedent before they do anything.'
One program, however, wasn't deterred by Moglia's unorthodox background and is reaping the benefits in a major way. In just his second season, Moglia has led Coastal Carolina to a 10-1 record and a No. 7 ranking in the Football Championship Subdivision poll, silencing skeptics who called his hiring a publicity stunt - or worse.
Though Moglia's success is not a new story in FCS circles - he was named Big South coach of the year after going 8-5 last season - it has largely gone unnoticed by casual college football fans. That will change, however, should the Chanticleers challenge or defeat No. 11 South Carolina on Saturday in Columbia, S.C.
'I really admire what he's done there and admire his love for coaching,' South Carolina coach Steve Spurrier said. 'Obviously he doesn't have to coach. He does it because it's something he's real passionate about, and he's done an excellent job, no question.'
'If you did your homework I think you'd have concluded I not only had the skill sets required of a college coach, but I might have a competitive advantage,' Joe Moglia says.(Photo: Andy Dunaway, for USA TODAY Sports)
Moglia, 64, indeed does not have to coach. Though he has consistently denied reports calling him a billionaire, most estimates of his wealth start at $150 million, which means he could spend the rest of his life doing anything he wanted.
It just so happens what he wants to do is work 80-hour weeks, make recruiting calls and deal with teenagers.
He's also proved a point.
When Moglia decided to get back into coaching, most people only saw his business career and his net worth. They largely didn't care about the 16 years before that; or the thick, detailed playbooks he compiled in the 1970s as a high school coach; or the two years (2009-10) he spent at Nebraska as an unpaid volunteer assistant observing every minute of how to run a high-level college program while living out of an Embassy Suites.
Though he knew he was outside-the-box candidate, Moglia couldn't quite understand why the people hiring coaches dismissed the idea that he could actually coach.
It turns out he was right.
Coastal Carolina ranks third nationally among FCS teams in rushing offense, third in scoring offense and first in third-down conversions. Under Moglia, the Chanticleers have tied for the Big South title both seasons and will likely head into the FCS playoffs as one of the favorites to win a national championship.
Moreover, Moglia's relationships helped facilitate a recent $5 million donation to Coastal Carolina athletics from TD Bank Group that will help improve facilities and fund scholarships. (Moglia said his only involvement was introducing the school president and chief marketing officer at TD.)
So, yeah, between the winning and the fundraising, Moglia has turned out to be a pretty good hire.
'It probably happened a little sooner than what most would have thought, but halfway through last season all our guys were 100 percent committed and involved, and the guys who weren't were no longer part of the program,' Moglia said. 'All those things wound up coming together nicely, and for me as you go through a competitive process, you try to adapt and adjust your players to your system and in doing that with a commitment on the part of the staff and the kids, you increase the probability you're going got be successful.'
The most intriguing question now is whether Moglia will have other coaching opportunities this winter, perhaps even at the Football Bowl Subdivision level. Whereas he would have been seen as a high-risk hire before going to Coastal Carolina, he now has a winning track record on the field in addition to the obvious positives in his background.
Moglia said he won't be in a hurry to move but addressed the issue with a level of pragmatism rarely seen in the coaching profession.
'(President) Dave DeCenzo is the person and Coastal Carolina is the university that stepped up to give me my opportunity. I will feel an incredible loyalty to them,' Moglia said. 'Most coaches would say I'll never leave, and that's not the truth. But it would have to be one of those situations where I could look my president and AD in the eye and they'd look at me and say, 'This is something you have to take.'
'But I don't expect that to happen by any stretch of the imagination, and I imagine I'll spend the rest of my career at Coastal Carolina.'
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Dan Wolken, a national college football reporter for USA TODAY Sports, is on Twitter @DanWolken.
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