Finding Financial Freedom With the Help of CEO Richard Dolan
Richard Dolan is the CEO and founder of LEGACY, a Toronto-based privately held boutique firm specializing in providing resources to those looking to understand their finances better.
He is a wealth merchant specializing in bringing financial life education, solutions and possibility to his clients with power, grace and ease. The company offers mentorship, advisory services, and coaching to its thousands of clients worldwide. With years of experience in the industry, Richard has perfected his strategies for helping others achieve financial freedom.
Having started as an understudy to financial global thought leaders, investment advisors, and institutions, Richard has come to obtain a great deal of knowledge about different aspects of the industry. He’s used it to help him create the best resources for every client who approaches his company for help, and it’s safe to say he’s found that winning approach.
Richard and his company have collaborated with a number of big brands in the finance industry, including ING, Trimark Mutual Funds, BNP Paribas, Societé Generale, Fidelity Investments, CIBC, TD Bank, Royal Bank (RBC), Scotiabank, and National Bank of Canada.
Within the last 30 years of his career, Richard has come a long way from where he started at the age of 16. Richard’s first introduction to wealth management was shortly after he was kicked out of his home and had to fend for himself. He found a job at a Bay Street firm, where he was tasked with cold calling clients all day, every day.
As Richard watched all the businessmen in the office, he knew that he wanted to reach the same level of success one day. None of them ever brought a lunch to work, always going out in their luxury cars, then coming back to talk about what they did at their summer homes. That wealth is what Richard set his sights on, and for the next few years, he worked hard until he co-founded his first asset management company at the age of 23.
After scaling his business for a few years and raising $1 billion in assets, Richard and his partner sold it for $144 million. This experience taught Richard a fair deal of essential things, like persistence and going for one’s goals. He went on to apply both of these to all future ventures, including when he obtained a position as the president and partner of one of North America’s longest-running private real estate investing network groups before selling his share in 2019.
Today, Richard focuses on LEGACY and helping others reach the heights he has. Public speaking has been an excellent tool for that. He’s even found himself on stage alongside Michelle Obama, Hillary Clinton, Oprah Winfrey, Ellen Degeneres, Sir Richard Branson, Deepak Chopra, and others. Richard has also toured with US presidents Bill Clinton, George W. Bush, Barack Obama, and Donald Trump.
Richard shares his experiences on his Instagram, @Richie_Dolan, and offers insight into his life. More information can be found on his website, RichardDolan.com.
The Ultimate Guide to the Essential Social Skills in Business
Effective communication and strong relationships are essential for success in the workplace. One factor that can greatly influence these qualities is emotional intelligence, often abbreviated as EQ. EQ refers to the ability to identify, understand, and manage one’s own emotions, as well as the emotions of others. Research has shown that individuals with high levels of EQ are better equipped to handle stress, communicate effectively, and work collaboratively with others (Chamorro-Premuzic & Sanger, 2016).
Research has consistently shown that emotional intelligence (EQ) is an important predictor of job performance and success in the workplace. EQ is comprised of a set of skills that allow individuals to recognize, understand, and regulate their own emotions, as well as the emotions of others. In addition, individuals with high EQ are better able to communicate effectively, build relationships, and navigate complex social situations. As a result, they are often viewed as effective leaders and collaborators, and are more likely to achieve their personal and professional goals.
In fact, a number of studies have demonstrated the significant impact that EQ has on job performance and success. For example, one study of 85 upper-level managers found that those with higher EQ scores were rated as more effective leaders by their subordinates (Law, Wong, & Song, 2004). Another study of 151 employees found that those with higher EQ were more likely to be promoted within their organization over a five-year period (Carmeli, Brueller, & Dutton, 2009). These findings highlight the importance of EQ in the workplace and suggest that developing these skills can lead to significant benefits for both individuals and organizations.
According to a study conducted by TalentSmart, a leading provider of EQ assessments, EQ is responsible for 58% of success in all job types (Bradberry & Greaves, 2009). In contrast, IQ only accounts for about 4% of success in the workplace. This suggests that EQ is a crucial skill set for individuals in any professional field. Fortunately, EQ is a skill that can be developed and honed over time with practice and awareness.
There are several key components of EQ that are particularly important for success in the workplace. These include:
Self-Regulation: This refers to your capacity to recognize and control your emotions. Sometimes treating them when they arise may be necessary. Understanding how to manage your anger is essential. However, it can also cover how to control the feelings you’ll experience.
Self-Awareness: This implies recognizing and understanding your own feelings. Do noisy places make you nervous? Do other people talking over you make you angry? Knowing these truths about yourself shows that you are working on your self-awareness. Being conscious of yourself is necessary for this phase, which can be more complex than it sounds.
Socialization: This category focuses on your capacity to manage social interactions and direct relationships. It doesn’t entail dominating others but knowing how to work with others to achieve your goals. This could entail presenting your ideas to coworkers, leading a team, or resolving a personal disagreement.
Motivation: Strong motivators include external forces like money, status, or suffering. Internal motivation, however, plays a significant role in Goleman’s concept. By doing so, you demonstrate your ability to control your cause and initiate or continue initiatives of your own volition rather than in response to external demands.
Empathy: It’s equally critical to be sensitive to others’ feelings. This may entail learning to identify different emotional states in individuals — for example, can you tell the difference between someone at ease and someone anxious? — but it also requires comprehension of how other people may react to their current situation. Empathy is one of the essential traits in business and business leadership.
A thought leader in this space, Michael Ventura has built a career advising organizations on the importance of emotional intelligence in the workplace. In his book, Applied Empathy, Ventura highlights the value of empathy in business and provides strategies for developing and applying this skill set. With two decades of experience as a leader, facilitator, and educator, Ventura’s work has made impact in with prestigious institutions such as Princeton University and the United Nations as well as corporate clients such as Google and Nike.
Through his work, Ventura advises leaders to focus on the development of EQ in order to help individuals improve their communication, collaboration, and leadership skills, ultimately leading to greater success in the workplace. Experts like Ventura continue to support the growing body of research on the value of EQ in business, and the evidence that organizations who invest in the EQ of their teams help to create a more empathetic and successful professional environment.
And it’s worth noting that EQ isn’t just important for individual success in the workplace, but also for overall organizational success. A study by the Center for Creative Leadership found that EQ was a better predictor of success than IQ or technical skills in the workplace, and that teams with higher levels of EQ tend to be more effective and productive (Boyatzis, Goleman, & Rhee, 1999). By cultivating a culture of empathy and emotional intelligence, organizations can improve their overall performance and create a more positive work environment for their employees.
In conclusion, emotional intelligence is a crucial component of success in the workplace, and individuals and organizations alike should prioritize the development of these skills. The ones that do not only develop a leading edge in their category, but also become a meaningful place to work for their teams. And in today’s rapidly changing talent landscape, the retention of highly capable, emotionally intelligent leaders is one of the greatest keys to unlocking success.
Boyatzis, R. E., Goleman, D., & Rhee, K. S. (1999). Clustering competence in emotional intelligence: Insights from the emotional competence inventory (ECI). In R. Bar-On & J. D. A. Parker (Eds.), Handbook of emotional intelligence (pp. 343-362). Jossey-Bass.
Bradberry, T., & Greaves, J. (2009). Emotional intelligence 2.0. TalentSmart.
Chamorro-Premuzic, T., & Sanger, M. N. (2016). Does employee happiness matter? Journal of Organizational Effectiveness: People and Performance, 3(2), 168-191.
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