Welcome to Business Innovators Magazine…Please introduce yourself and a brief thumbnail of your background.
My name is Mike Arbogast. I am a Certified Public Accountant and Certified Financial Planner. I run a small tax accounting and financial services practice in Melbourne, Florida. I work with the public every day and help them solve tax and personal finance issues.
BI: What would you say is the area of business that you are most passionate about and why?
MA: Portfolio management. Everybody tries to make the process too complicated and it doesn’t need to be. If you take the time and do the research you really can find the best holdings that have taken the least amount of risk, and you don’t need as many of them as most people think.
BI: How are you different than your competitors?
MA: I go the extra mile, and then some. I genuinely care about their wellbeing and the success of their financial lives. I am in business to make money, but never at their expense.
I don’t see my competitors using this philosophy.
BI: Please tell me about any recent business accomplishments that you are most proud of and why?
MA: Well, I just came out with a new book called Legacy Living. It’s about little-known concepts involving IRA accounts along with fundamentals for retirement. There is also a section on how to manage your health which I am passionate about. It is a quick read, but I think most people will find it entertaining and informative.
BI: What Leadership qualities in Leaders do you most admire and why?
MA: Their public speaking ability. It’s just not that easy to do unless you’ve been given a gift or really worked at developing the skill. Next up would be the tough nature of most leaders…their ability to stand their ground and stay cool under fire. My Dad had these skills and schooled a lot of it in me. He came from a tough West Virginia coal mining town and is a combat veteran from the Korean War. He learned early on that he had to be tough just to survive.
BI: What has been a key element of your success?
MA: I guess, my work ethic along with my refusal to give up. When things were tough over the years I just kept going back to work and refused to throw in the towel. During the great recession and financial crisis back in 2008/2009, a lot of my peers just gave up and quit. They decided that things were just too difficult for them to stay in business. I stuck it out and became a a better man for it.
BI: What are some of the business projects that you are currently working on that you are excited about and why?
MA: I am working on a satellite office in another location here in my area. Having more than one firm has always been an exciting proposition for me.
BI: What are 1 or 2 things you would like to say to a prospective client who stumbles across this interview?
MA: Don’t rush into hiring a financial advisor. Interview at least 2 or 3 of them and then make a decision. Be sure to check them out thoroughly. Letting them manage your money or sell you a product is a big deal. It can make or break you!
BI: To wrap this up, what are you most excited about in the upcoming months in your business?
MA: The economy. Business is really moving in my area! I have been getting 2 or 3 new clients a week of different types. If the trend continues, I will have to hire more people and build a bigger office!