Live in the present and enjoy the ride. Educate, learn more, but cherish your life.
The mark of an empowered wealth management advisor is when they are recognized for their ability to tailor strategies and insulate clients through the toughest markets. Such is the strength displayed by Peter Michael Torabkhan, well-disciplined in his practice for the past 10 years.
A native New Yorker, Torabkhan was born and raised on the upper west side of the city. His dynamic talent was recognized for presenting himself as a charismatic communicator. This discovery came when he was attending Hunter College in mid-town Manhattan. He was offered an opportunity which launched his career in the financial industry in 2008. His passion for the financial industry accelerated his desire to become the best wealth management advisor he could be. He was consistently striving for success. As Peter Michael Torabkhan immersed himself in his education, he qualified for certification of 10 distinct industry license designations.
Torabkhan is a wealth management advisor with Allied Millennial Partners. His current focus for new business is to cultivate relationships with the millennial generation. This generation has provided new innovations in science and technology. They are contributing to the strength of our gross national products. Peter Michael Torabkhan is looking forward to connecting with this powerful group of the new investor.
Where did the idea for your company come from?
I was influenced by my father and uncles who were avid investors. I was interested in the financial industry as far back as I can remember. I have been in the industry for the past 10 years. I was fortunate to have made contact with some very influential people within the industry. They recognized my potential and provided me with an opportunity directly out of college.
What does your typical day look like and how do you make it productive?
I structure my day. I am up at 5:30 in the morning. When I get to work I read everything including sites and blogs that keep me informed about leading-edge markets. I also follow several influential people on social media. I review their posts and the days’ upcoming events. Over the course of the day, I designate time to prospect, trade, and follow up on customer service. I also do presentations to teach younger fellow advisors. I make time at 4:00 to work out and get some exercise. I eat dinner. I then leave the office between 8 and 9. When I get home I catch up with friends and family.
How do you bring ideas to life?
I confer with my partners to bring new ideas to life. I confer with people of influence. It could be colleagues, clients, even my parents. I think gathering insights from wherever they are available is prudent. It flushes out the idea and provides clarity. I need to research, plan, and execute new ideas.
What’s one trend that excites you?
The thing that excites me is the monetization of data analytics. Businesses across the globe and across any business sector are emitting data on a moment to moment basis. We have all of this data available but we cannot keep up with it. That is what makes the monetization of data analytics so important. Also, cybersecurity is also important in securing that data so that our livelihoods are not compromised. It is a new frontier.
What is one habit of yours that makes you more productive as an entrepreneur?
There is a saying “The only thing impossible in life is to beat someone who refuses to quit”. I am that. It is something that I’ve always admired and always tried to implement. It is who I am as a person and a professional. I go above and beyond for my clients. I do whatever it takes as long as it is legal. What sets me apart is my refusal to quit.
What advice would you give your younger self?
I would tell my younger self to live in the present and enjoy the ride. Educate, learn more, but cherish your life. Spend time with the people that you love.
Tell us something that’s true that almost nobody agrees with you on.
I think being a contrarian is important. I don’t follow the crowd. I don’t really focus on those moments. I’d rather have someone else benefit from a group collective perspective. Having credit or blame doesn’t really matter as long as there is solution and the customer benefits in the long run. I find my own meaning and truth.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
The thing that I do over and over is read. The other thing I do is self-educate. Try to sharpen your sword every day. The best time to do something is right now. A plan executed presently is much better than the perfect plan executed 10 years from now. Address conflicts and move forward.
What is one strategy that has helped you grow your business?
I have incredible communication skills. I make sure that the customer has full clarity and awareness of everything that I do. I communicate when things are going well, or not so well. I answer every question or concern we may need to address. It is all about tailoring the strategy to each individual so I would say that communication is the key strategy.
What is one failure you had as an entrepreneur, and how did you overcome it?
We fail every day and we learn every day. Failure is exactly how we learn in life. I do not have a fear of failure, it leads to experience.
What is one business idea that you’re willing to give away to our readers?
I believe that one should follow their true passion. We all have strengths, cultivate that strength and passion and monetize it.
What is the best $100 you recently spent? What and why?
The last hundred dollars that I spent was given to a woman and her daughter. I thought it might buy them a nice dinner. I have been blessed. I know the impact that a hundred dollars made on the woman and her child. I was happy to do it.
What is one piece of software or a web service that helps you be productive?
Salesforce.com. It is a customer relationship management application (CRM). It is an extremely useful tool that assists salespeople to organize information and customize data.
What is the one book that you recommend our community should read and why?
“Don’t Sweat the Small Stuff” by Richard Carlson. Anyone can benefit from reading this book. It is an inspiring book. It reminds us to be grateful for our blessings.
What is your favorite quote?
“The only thing impossible in life is to beat someone who refuses to quit”. (Unknown author)
• The thing to do every day is to read and continually self-educate.
• Address conflicts and move forward.
• Do not fear failure, it leads to experience.
Steve (Stefan) Junge hails from Germany and helps with the day-to-day publishing of interviews on IdeaMensch. While he and Mario don’t share a favorite soccer club, their enthusiasm to help entrepreneurs is a shared passion.