Peter Michael Torabkhan - Independent Wealth Manager

Peter Michael Torabkhan is a talented financial advisor. His passion and dedication are demonstrated through his hard work and focus on creating the best portfolio solutions for individual wealth management. His ultimate goal is to cultivate relationships that become lifelong partnerships with a substantial and mutually beneficial trust.

Peter was born and raised in New York City. As a child, he attended private school on the upper west side in Manhattan. He spent two years at Bronxville High School in Westchester County and two years at the New York Military Academy, a private boarding school in Cornwall, NY. He spent three years at Hartwick College in Oneonta, New York. His focus was in Economics and Finance. He returned to Manhattan to complete his education at Hunter College.

As Peter Michael Torabkhan attended his last year in college, he worked in a restaurant in Manhattan. The restaurant was frequented by many people who worked in the financial industry. It was there he made contact with some very influential wealth management patrons working within the financial industry. The managers observed the ease in which Peter addressed patrons and the confidence he displayed while in conversation. His manner led them to believe that Peter had potential. They inquired about his background. These contacts would ultimately lead to Peter’s first opportunity in the financial industry.

Upon graduation in 2008, Peter Michael Torabkhan began his career in the financial industry. He obtained his license for the state of New York in November of 2008. His first opportunity in the industry was with Aegis Capital. He also worked at National Securities. In 2011, he joined Allied Millennial Partners as director of investments. Since then, he has obtained 12 licenses.

Peter Michael Torabkhan specializes in individual wealth management. He tailors strategies and portfolios, making sure they are insulated in times of turmoil, regardless of what their objectives are. Peter works with the best interest of his clients in mind at all times.

How did you get started in this business? What inspired you to start this business?

I was introduced to the financial industry at a very young age. My father and uncles were very avid investors. One year for my birthday they gave me a birthday present of 2,000 shares of Lucent Technologies. I used that stock to trade for companies such as Google and Apple and other companies where I saw an up-side.

How do you make money?

I make money by handling individual portfolios. I assist clients to obtain their objectives. There are many products and services we can provide to individuals to accomplish their goals. I can provide portfolio strategies for retirement, private equity, fixed income, annuities, or insurance. I look out for their best interest and then come up with a strategy for each portfolio. I develop relationships that I hope to be able to serve as a partner for a lifetime. I have been in the business for 10 years and have clients who have been with me for as long. I don’t treat them like they are simply statistics. My clients are my priority.

How long did it take for you to become profitable?

As in any business, it takes hard work and persistence. I believe it took about two years to really establish myself. It was a challenge. It taught me to be a better advisor. You take care of your customers and they will take care of you. My customers always come first.

When you were starting out, was there ever a time you doubted it would work? If so, how did you handle that?

Absolutely, I believe in any business there are always challenges. There are always times when you doubt yourself. But if you believe in yourself, others will believe in you. You deal with it with positive affirmations, such as: tough times don’t last, positive people do, or I shall persist until I succeed. I also think that self-education is always a positive way of staying on point. Don’t just get your licenses; read books on individuals that have been successful, such as heads of states or great leaders. Read about people who have forced change on humanity in a positive way. I also focus on my family. I remember the people who have raised me and shaped me and supported me along the way. I have been blessed with the people around me. It is darkest before the dawn. We have highs and lows no matter what business we are in. The key to success is being consistent.

How did you get your first customer?

I developed my first customer through my prospecting calls, which is one of the ways I accumulated my customer base. I cultivated a relationship with him. I inquired about his objectives and his goals and his risk appetite. I learned about his experience and his accreditation. Three months later, I was given the opportunity to run a portion of his assets.

What is one marketing strategy (other than referrals) that you’re using that works really well to generate new business?

One strategy I use that has worked very well to generate new business has been scheduling face to face contact with my customers. When we meet, I like to plan a strategy for their portfolio. We can clarify goals. Assess their comfort for risk. Might they be taking on too much risk for the objectives they are looking to obtain? Are we sure beneficiaries are properly taken care of after they are gone?  Should we reduce the standard deviation of the portfolio? Making sure the risk profile of the customer is appropriate to the customer’s needs is very important. I have been very successful using portfolio reviews as a strategy for developing new business.

What is the toughest decision you’ve had to make in the last few months?

The toughest decision that I have had to make in the past few months is to make no decisions at all. Over the past few months, the market has been extremely volatile. When you are dealing with such a volatile market, customers get nervous. It is very difficult not to go after or not to trade in the markets that I have found. Taking advantage of a market that is making significant swings could be advantageous. But it puts customers at significant risk. Not taking that risk of potential gain is difficult because of the fear of missing out, not just for the customer, but also for the advisor. But the most difficult decision is not to make a decision at all.

What do you think it is that makes you successful? 

Going to military school developed me into somewhat of a robot. I work extremely hard. I work harder than anyone that I know. My experience, consistency, and work ethic set me apart from most of the rest. I refuse to quit. I am dedicated to my customers. I am at the office by 7 in the morning, I am often here until 8 or 9 at night. My practice is my life. My customers come first. That is what really sets me apart from all the others.

What has been your most satisfying moment in business?

There are many satisfying moments in business. I would have to say that it is when a strategy is followed through. I do a lot of retirement-specific work. I work the index annuity space. Over the course of several years, I’ve allocated 20-30 percent of asset management into the annuity space. It gives a high probability of success, especially over volatile times in the market. Over the past two or three months, the market has gone hysterical. It is showing all sorts of uncertainties. This makes people uneasy and uncertain. My job is to insulate these people against the uncertainties. I have heard back from those customers who I have protected. That gives credence to the fact that I am doing my job correctly. I am following through on my obligation. That gives me a lot of pride. That is the definition of success.

What does the future hold for your business? What are you most excited about?

I believe that consistency is success and consistency is my future. I will always be looking out for my customers. I will be expanding on product lines. I will make sure that my customers have everything that they need. I will be providing my services for retirement specialization, managing money, insurance, diversification, and professional management.

I am most excited that there is a brand new generation of millennials who are investors just beginning to familiarize themselves with the markets. With the amount of the new regulations and transparency within the markets presently, that will set apart the individuals who are truly honing their craft. They will always look after their customers first. Not all people in the industry put their customers first. But it is the way that I do business.

What business books have inspired you?

I think everyone should read “The Greatest Salesman in the World” by Og Mandino. Also, “Don’t Sweat the Small Stuff” by Richard Carlson. I also read biographies on successful people, such as RonChernow, Rockefeller, Brazos, Musk, Buffet.

What is a recent purchase you have made that’s helped with your business?

I am purchasing study materials for the certified financial analyst designation. I think it is important to continue your education for any profession. It will make us more talented and more prepared to meet challenges and to achieve objectives.

What kind of civic participation are you doing presently?

I donate to a series or organizations such as Saint Jude’s and The Nature Conservancy. I take the time to improve the world that is not specific to me. The time that I have is extremely limited. I am very thankful for the many blessings that I have had. I believe in giving back to the community. It is important for us to take time out of the day to improve the lives of others. If we can do this, it will benefit all of us. I believe that everyone should ask themselves what they can do for their community today. The answer is: More.

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