EP 413 – Money Mondays: Big Events At Quest Trust Company with Nate Hare

Foreign.

This is the no Closer show where you get the latest developments in distressed note investing and learn the secrets of how you can control millions of dollars worth of property for pennies on the dollar. Get educated and entertained by someone who has closed thousands of deals and lives to support you in achieving the same. Now, here's your host CEO of We close notes, Scott Carson.

Good morning, good afternoon, good evening everybody. Welcome to this episode of the no closure show. It is Monday. It's the first Monday of the month. So it is money Mondays. With our folks over at Quest Trust Co. We're honored today to have the man, the myth, the unfortunate Seahawk rooting legend, Mr. Nate there out there this morning.

The intro started so well and then you had to just give me that little jab. I got it. You beat us this year, Scott, so I'll give it to you this time until wait until next year.

We got to take it when we can. We got to take it as a Cowboys fan. We got to take it where we can. We can get it.

So I can dish it out, but I can also take it. So I'll wear this one right now.

There you go. Thank you very much, sir. But anyway, we're excited as always. Quest Trust company on here.

Protect your retirement assets with Quest Trust company.

Yeah, when you guys send this to me, I was a little surprised. It said small to know my melon of a head but maybe this is designed to be worn.

But anyway, pretty sure we did that on purpose because I wanted you to just struggle trying to put it on, not realizing that it wasn't.

It sat on the top of my head and then it cut off blood flow. But anyway, for those that are listening to it, Nate was kind enough to send me a very nice football helmet here with the Quest Trust logo on it sitting behind me here, my left hand side for those that are watching live on Facebook and YouTube videos. But Quest Trust, you guys are got a full schedule event. You guys are rock and rollin January was a great month for you. I saw Quincy was down in Jackson, Mississippi with Walter Wolford for his financial friends summit and things like that. You've also had a very successful masters of tax avoid not evasion but avoidance event.

Basically very different. Tax evasion is illegal.

So what's going on man? What are you guys up to this month?

Man, we are rocking and rolling. We are so busy. We think like we're busy one year and then the next year we just get more busy. So. But you named some great events. That MTA was great. It's always good to get out there to the masses with an online bootcamp. And we thank you for that. I mean you really kind of started us off in that kind of trek. But we do have some good live events coming up and we'll talk about that. Really, we're just a big fanatics, as you know, Scott, about educating investors out there and invest wisely, doing due diligence and especially when you're talking about your retirement assets, I think that's always key is educating yourself and making sure you're investing in things you know and understand.

That's true. And now with it being the first part of February, golly, where the heck did January go though, right?

Man, I keep thinking it's the new Year. Somebody even told me happy New Year last week. And I was thinking it's not the new year anymore, is it? I mean it is, but it isn't. I mean we're in February.

Uh huh. But that's the thing. So a lot of people excited. They set New Year's goals for themselves. You guys are running a couple cool specials. We'll get to that in a second. I'm honored to have I think Ingrid speaking Friday or Saturday on our February virtual no buying workshop, the 15th and 17th. We're excited about that. You guys have some cool stuff coming up. We got a March Madness event for those that are investing with 10 grand or less, which was really cool. We want you to talk about that in a second. But let's talk about some housekeeping a little bit. A lot of investors are all. I'll give you an example. We've got some different JV partners with Quest Trust accounts and we're basically pulling into the year values and submitting that in. Let's talk about little bit how easy that is to do that and some of the different options that people have available to them.

Sure. It's always, always good to talk about housekeeping when it comes to your retirement accounts, especially in the new year. One thing that people oftentimes don't understand is that we are actually regulated. We have a regulatory body. We have several regulatory bodies. One is the Texas Division of Banking. You know, even the higher power, it's, you know, old Uncle Sam and being an IRA custodian now, which we are, we always have reporting duties to those higher powers. And one of the reporting duties is that we have to submit end of the year values for last year for all of the assets that we hold as a self directed custodian. That can be a little bit hairy because we hold everything from real estate to notes to oil and gas interest to soy sauce bottles to ice cream stores to horse firm. Okay, so, so, yeah, so Quest Trust can't go out and get all those values on our own. So we ask that clients just submit what's called our fair market value. We used to have these on paper forms. We still do, but for those of us who are more into the more technological advanced way to do it, all people have to do is just log into their client portal. If they're already a client, click the asset or search their asset, and right next to that is a button that says fmv. You click, it pops up. You just input the current value as of last year and upload any supporting documentation. It works like that. You can literally do it in five minutes or less. And it has been working pretty seamlessly because as of today, we're already close to 50% of the FMVs turned in, which is phenomenal for just being through one month of the year. A lot of times we've been scrambling to try to get this stuff. So we just ask that clients just go on there as an upkeep. We're not trying to make their lives harder. It's something that we have to do. We're regulated to do it. And we're supposed to get 100% of them. So obviously, the faster you turn it on, turn it in, the less we have to bug you. That's just one of the things. One other thing that I wanted to mention, Scott, is we also want to talk about contributions for this year is that a lot of people are scrambling to put in their 2018 contributions, and you have up until April 15th to do that. So anybody that's got retirement accounts with Quest or anywhere else, just remember you got that April 15th deadline for your personal plans, traditional Roth education plans, like your esa, some of the employer plans go a little further out. And if you haven't set up an account, call one of our IRA specialists and talk to them and find out the wonderful things you could do with a self directed ira. Because you don't have to put a lot of money in to do some of the investment strategies that Scott and some of these wonderful investment professionals teach out there. It only takes a little bit of creativity and a little money. And a great way to do it is tax free in these retirement accounts.

That's right. And Ingrid and Keaton both did a really good job from our Live from the Vault episode that we did on the 4th of January from the Austin offices recently, talking about how now it's increased by $1,000 for 2019 contributions. Right. For your IRAs and have gone up across the board.

500 for the personal plan. So if you're under the age of 50, you can contribute 5,500 to a traditional Roth for last year. For this year, you can contribute 6,000. And then if you're over 50, one of those old farts, you can contribute 6,500 for last year and 7,000 for this year.

That's correct. So it's nice seeing those things going up. Great opportunities. When you break it down to like, it's literally $500 a month if you think about it. If you're making another car payment. I know a lot of us are budget mindset things. They got a budget, especially those that are working full time jobs. Look, set aside, Trust me, that $500 a month, it's probably cheaper than we pay for coffee every month from Starbucks. Or $500 really isn't that much to cut back on. It's 20 bucks a day for the most part, if you think about it. And setting that up where you, boom, you're just paying yourself first. One of the big rules of how to get ahead.

So that's a good point too, because a lot of times when we go out and speak to people who don't have IRAs set up, you know, one of the misconceptions is that you have to have money first.

Yeah.

A lot of people say I need to make more money first. I need to make more money on my investments so that I can make contributions to your ira. That's actually the opposite thinking that you should have. Because a lot of times people don't have money because they're paying too much in taxes by using their own money to invest. When if they start, like you said, stashing a little bit of money each month away in these retirement accounts and start investing in those tax free vehicles, well, then you find out, whoa, I got more money than I anticipated because you get Uncle Sam out of your pocket.

Amen to that. Because a lot of people, especially right now, are running to get their tax returns done. It's the end of January, 1099 or W2s have come out. They're running to H and R block or doing their turbo taxes. And that's one of the things that you mentioned too. Like you've got till April 15 to contribute to 2018, and then also till April 15, 2020 to contribute for 2019. So it's a great way to put 12 grand away by double Dipping on your individual accounts, right?

Oh, yeah, definitely. And think about it like this. When you go on Facebook or anything, social media people are always kind of joking, can't wait to get my tax refund so I can buy this. Well, instead of buying material stuff that's just going to go down in value on you, why don't you take that 2018 refund and reapply that to maybe 2019's contribution? Invest for your future. And the more we get into this habit of just buying useless things, things that never have money to save, men never have money to retire on. Feel like I'm preaching to the choir.

Hey, but you know what? You never know. It could be that one person listening here to the podcast out there in the airwaves of our large audience, because we just went over 235,000 downloads on iTunes and Stitcher, all that stuff. We're over 115,000 views across Facebook Live and another 200,000 views across our video. So you never know who might hear this little thing.

If we can get through the one person, this podcast was well worth.

Amen to. That's the way I look at it. One is greater than none. So let's talk about some of the February specials for that one person or that one family out there that you guys are running this in February, the month of love. And black history as well.

Yes, it's the month of love. So we have special coupon for this month, which is LoveQuest. But for those of you who are Scott Carson students, Scott Carson podcast listeners, anybody out there that's a friend of Scott Carson, we have Scott Carson has its own special coupon code, which is Carson19. Okay. This goes throughout the entire year. When you open an account, you get that coupon code, and for whatever month you open it, you get the promo for that month. So we'll keep you updated as to how promos change. But basically this month for the month of February is if you open an account for yourself, you also get a free account for for a loved one, spouse, dependent, or somebody of that nature. So it only costs 100 bucks. If you're thinking of opening an account for yourself and your wife, you basically get to double dip on Scott Carson's promo. So that's going to go through the entire month of February, the month of love.

That's awesome. How much can they start an account with? Once again, is there a maximum minimum amount?

Yeah, we have no account minimums at Quest, so you don't have to make any deposit. Now. There's a lot of reasons why you would want to make a deposit. But we don't force you to make a deposit as a contribution. Now, one thing that you might want to think about is for those of you who do not have a Roth IRA right now, anybody, regardless of their income, can have a Roth IRA. There is a five year seasoning on Roth IRAs, which we teach a lot about in our class. So if you want more details about how these Roth IRAs and even Roth conversions work, watch our class online that talks about that. But for people who are making contributions for the first time to a Roth IRA, as long as they make it by April 15th of this year, and it doesn't matter how much, 10 bucks, 100 bucks, whatever, your start date for your Roth IRA becomes January 1st, 2018. So if you're approaching that age of 59 and a half, I would say in order to have tax free distributions out of a Roth ira, you have to have it for five years and be above that age. But you can backdate it with a contribution as long as you make it for 2018, which you have up until April 15th. So for those of you who are 54, 55, 56, if you don't have a Roth IRA, I would suggest open one, make a contribution. Even if it's 10 bucks, make a contribution for last year, 2018, and you got a start date back in 2018. So great time to make contributions.

That means you want to really take the season of four more years in, correct from today then?

Exactly. So you got four more years. So you're basically one year already in, as long as you make that contribution by the tax filing deadline.

Smart. That is a little sneaky, but totally legal. Totally legal.

Tax avoidance, not tax evasion.

Big A or E there, right? That's good stuff. Now that's February. You guys have your trillion dollar mixers across the place. You're expanding offices. You've taken over the entire first floor in Houston now. Great. The Austin office is booming. The Dallas office is also busy growing. What are some of the other big events that people should put on the calendar for the month?

Well, let's kind of talk about the ones that you said is every one of our offices or cities that we have offices on, which are Houston, Austin and Dallas, we do not only weekly classes, but we do a monthly mixer. And these are free to anybody. So I don't know why people would not come. It's free and we provide food. So one of the things that Quest is big on is not only education, but networking. So you have the Houston trillion dollar mixers, which are the. I believe the Next one is February 12th. We got Chris and Jamie Bounds. For those of you who are familiar with Chris and Jamie Bounds here in Houston. Great people. They're clients of ours. They're going to talk about the top tips on how they flipped 100 properties and they also talk about that in the IRA fashion. And then we've got March 5th, we've got trillion dollar mixer with Glenn Stromberg. I think you know Glenn Stromberg, he's going to be talking about mobile home.

Mobile homes, yeah, exactly.

Mobile homes in a self directed ira. And we got like people like Jeff Watson who's coming down to Dallas March 27th. Scott Henneke, February 26th in Austin. We just got a great amount of things going on and I would say if anybody's interested in joining those events live, just go to our website, questtrustcompany.com and see the list of speakers and events that we have. And just remember if you're online, you can watch from anywhere. Just go to Facebook and check us out.

Such a value, great knowledge on your Facebook page. That's the thing. You guys provide more quality content. Another IRA company. I'll tell you a funny story. I was actually at an event last weekend in Vegas and they had another self directed IRA company out there. Total botched presentation. She couldn't answer questions when I asked them questions just to kind of help them out because I wasn't presenting. I was actually there attending. Total botched it. And so it's so valuable. All your certified IRA specialists are phenomenal, can hold their own, can share stories, case studies and really do a great job. And they go above and beyond communicating. And really customer service is number one with you guys. You just do amazing job out there. So let's get some comments here. Yeah. Stephanie Goodman says hello. She says exactly Nate here, Life over things. And she says check out Quest Trust company's upcoming events. And she actually posted a link in the comments below on Facebook. So gotta love Steph.

Love you, Steph. Appreciate that.

And he's even a Seahawks fan. It's so great.

Oh my gosh. You and the Seahawks fan. Let me touch on that real quick, Scott, because I think that you brought up a good point is we're not perfect by any means. Stretch of the imagination. But we try to have the best customer service in the industry because we realize in our industry you separate yourself one of two ways. You got to be the best when it comes to customer service because everybody's Products the same. Right. I'm not going to name names, but all the self directed companies, we have the same products, they're IRAs. So we want to differentiate ourselves with the service. But also the education that is key, as cheesy as it might sound, but it's. There's some truth to it, is that we're only as good as our clients are as investors. Because if we have a bunch of investors that don't know how to invest well, they're not going to last very long as clients. So we feel if we can educate our clients to the best of our ability, do some stuff online, do some boot camps, do some live events like our expo coming up and do all of that stuff at the end of the day, our clients are going to be better served by that. They're going to be better investors and they'll be with us for life.

Exactly. Stephanie asked a good question here. Can we share a little about what the specialists go through to become certified? Nate here.

Oh yeah, the IRA specialist. Okay. So we have several different groups of people I think that work at Quest. A lot of people don't realize this. There's a lot of different departments that actually have to work together that help Quest run. Now typically anytime somebody's going to set up an account or is going to meet us out in an event or call and speak to somebody for the first time, they're going to talk to an IRA specialist. These are typically the people that are the most highly trained in the company. They need to be able to answer all questions relating to all types of things when it comes to not only IRA rules, but how transactions work, how investments work, and talk about that smooth and consistently. So one of the things that we first do is we put them through a three month review. That's just what everybody, new employee at Quest does. That's really kind of the initiation to them becoming a full time Questee. So they got that first three month review. Now if somebody shows the urge to want to be an IRA specialist, there's a second review that has to be done which is typically only after a year of service. Now this review is a lot harder than that three month review. This is the IRA specialist review, which means you have to do a presentation in front of a group, a specific group and you have a three hour review. Questions from specific panel. Now the panel consists of Quincy Long, our president and founder, Nathan Long, our CEO, myself Beatrice Forrest, our vice president. So basically it's the hardest review you can take amongst the most critical people at the company. Because any review that Quincy's on, man, you better have your stuff straight. And we basically take it from there. And if they pass that, do the presentation with flying colors and be able to answer all the questions that we hit them with for three hours, then they become a full fledged Questi IRA specialist. And those are the people that you typically will talk to when you first contact. Quest Trust is you'll talk to one of those highly certified IRA specialists. And by the way, they also take an exam from the banking division, which is a very tough exam too. It's a. You got to study for a week and take an exam and people say it's equivalent to a bar exam. Wow, 15 certified IRA specialists.

Question for you here. Does everybody pass that board exam on the first time?

Oh, no, they don't. Very few pass the first time. But we offer re reviews and it's just a good way to. Because honestly, that presentation in front of those people is harder than a presentation in front of 200 investors. Because I've done it before. I would much rather go speak to 200 investors that I know. I'm probably know a little bit more about retirement accounts than do a review with Quincy Long at the end of the table. Because it's very hard to eclipse the knowledge base that that gentleman has. So, yeah, it's very hard to get through that. But the Irish specialists that do that, you see every day that you talk to Ingrid's, Haley's, Becca's, they've been through the ringer. They know this stuff better than anybody. So don't let the young age fool you. They've gone through a lot to get where they are.

Do you think you guys have the most certified IRA specialists in the country?

I would think so. It's hard because you can't just look that number up. I could call and phantom my voice and act like I'm just Average Joe asking. But we try to have certifications done at least twice a year for employees that have had two years of service or more to get that exam taken, the CISP exam. But I would say we probably have the most, I would think. I mean, we've got close to 20 now.

That's awesome. Intensive and very well planned. That's the power. Fifteen questies.

Yeah. So you know you're going to deal with somebody that's very knowledgeable about this stuff. So if you are going with the company again, I am biased. I don't think that there's a better company out there than us doing what.

We'Re doing now with Education. You see a lot of small one mom pops basically solos. Yeah, can't do that and really expect to grow. You got to more people you bring on to work, the better, faster you'll grow and do a lot more bigger.

Especially if you're active. You can deal with those smallman's pop shops if you're doing one or two investments here because a lot of times those mom and pop shops are processing those investments, their sales. But we've got a staff of about 120 now. It's growing significantly and we're still expanding. So. And our training's always been the same. So we have a very rigorous training. Not even with the IRS specialists, just the normal people that work in the mail room, people that work at front desk. We put everyone through that three month review because we want to make sure we're all talking the same language.

Definitely. Now you mentioned something coming up in March that you've got kind of a cool thing you're doing.

March Madness.

March Madness, baby. March Madness event coming up.

Yeah, March Madness. So obviously March Madness. For those of you who are basketball fans, we're doing a special event in Dallas. It's March 7th. Okay. A little bit early, but it's when our trillion dollar mixer in Dallas is. So this is where we'll place the trillion dollar mixer and it's going to be March Madness bracket style. So we've got a list of presenters who are investors and quest clients and we've paired them up bracket style to come in and bring their best $10,000 or less investment story in their IRAs. So a lot of people are always interested. I don't have hundreds of thousands of dollars in an ira. What can I do? Well, there's a lot of strategies out there that take very little money to do. And we've got some of the best investors that we know to come. On that March 7 day in Dallas, they're going to pair up and basically the audience is going to vote who's got the best investment story of 10k or less. They move on to the next round to fake the next winner. So it'll be fun. There'll be food, there'll be beverages and there'll be a great opportunity to network with not only the speakers, but a room full of a hundred other Dallas locals.

That's pretty cool. That is exciting as well. And then you guys are also. Keaton's gonna be out at PodFest actually in Orlando at a booth at. I'm actually doing a half day event lunch at the Market With Tyler Chef from the Cash Flow Guys podcast.

Yeah.

The day prior to PodFest kicking off, we're actually doing a half day there in Orlando, so we're excited he's going to be there. Talking a little bit about IRAs. The people in the Florida market with us as well, too. So that's not on the calendar yet.

What kind of booth is Keaton sitting at? Is he dealing cards? Because he's always wearing a vest looking like a blackjack dealer.

You talking about me? Am I green?

No, I'm talking about Keaton. No, if you notice Keaton, he'll come out in the vest now. Even his color scheme. I just said I always give him a hard time. Keaton's a great kid. Keaton's like one of our best Irish specialists, so I like to razz him, but he comes out looking like a blackjack dealing time.

So, hey, sometimes you're dealing, baby. And if you're with the house, you always win.

Go. House always wins. That's right.

Exactly. Just like the Cowboys at the Seattle Seahawks.

Oh, my gosh. How do I get off this webinar?

One of the questions for those that are watching out there, we have what was your biggest surprise from the most recent masters of Tax Avoidance onlinequest bootcamp that you guys did a couple weeks ago? What's the biggest surprise from it? Anything stick out to you?

The biggest surprise was honestly getting that many speakers in a three day time span and getting all of them to show up on time. And I say that with only the best intentions because the people that we bring on there, I mean, these guys are busy guys, you know what I mean? Everybody that we got on there first of all said that they wanted to be a part of our next big thing. We vet people pretty regularly and pretty stiffly. We don't want just your average Joe getting on there and talking about whatever. These are all people that are highly successful. They have their own day to day stuff that they're doing. They have their own successful businesses, some of them even bigger than Quest Trust, to get them to share a little bit of time with the audience is just phenomenal. And, you know, we had, I think 30 speakers over three days. So to get all of them in tune talking about the same things, but different. I mean, we're all just talking about how do we make more money and how do we pay less taxes. That's really the ultimate goal of the masters of tax avoidance. And they came in with their own different flair. You've got people coming in, talking about buying multifamily apartment buildings. You've got people talking about mobile homes, lending, borrowing from IRAs. I mean the list goes on and on. It was just so much material in a three day time span. My biggest surprise was that they, the girls put that together. It was consistent. Everybody showed up and it was great for everybody.

Yeah, that's always a big thing when you're herding cats or egotistical cats because everybody that always has an ego a little bit.

Yeah. And I know because we put you through some pain too because I know we got to get Nathan and Quincy on there and you know they're not the most technical, logically savvy, but it's just when you get so many high powered people and people that are busy with their lives, it's just great when they can all show up and provide the material that they provide.

That's the thing too. Are the replays available to that for anybody that's interested in Nate?

We do have them for the people that attended. If you didn't attend. We're still trying to decide if we want to make that available. People obviously did pay to be on that or pay to join that. So we might release it out there to the public for a small price if people want to tune in. We do have, I will say, shameless plug. We do have the full videos of the Dallas Expo. We do have that now available for anybody that didn't attend that. Man, that was a phenomenal event. Scott was there, he was on a panel with me as the moderator. Scott did his own presentation along with other speakers. That was one of the best events that I've not only helped organize, but actually attended. I mean I was sitting there like as a student and we've got that now online where people can purchase that. If they did not, we're not able to come. And not only do you get those video downloads, but you also get 50% off our next Expo which is in August in Houston. You get the recordings of the entire Expo in Dallas that you might have missed. Plus you get 50% off tickets for this coming one, which we anticipate probably close to 1,000 people at this next Expo.

Yeah. So let's talk about the dates for that. Is the 23rd, 24th and 25th.

Yes.

August. It's not just a Saturday Sunday, it's a Friday through Sunday event now, Correct?

Yes. What we wanted to do is we didn't want to drag the event on too late Sunday. We realized people were, if they're traveling in, they want to get back home to the Family. So what we're doing is we wanted to end it a little early on Sunday, but not reduce the time that we have speakers presenting. So what we're doing is we're doing the half day Friday, full day Saturday, half day Sunday, just to try to get people home back to their families. But again, great events. I can't wait for that. I'm so excited for that one.

You're starting off at noon on that Friday, is that correct?

I believe so, yeah. I don't have the calendar in front of me, but that's the plan is to start half day Friday, full day Saturday, half day Sunday. But again, that's kind of. We're leaning.

I would love to know that. Cause I'm scheduling my August mastermind around your event like I did last year.

Well, we'll talk after the show and make sure that we get it straight.

That's good. That's good. I got people coming on the 21st or just for a day and a half and the day afterwards.

Got it. Awesome.

Good stuff, man. It's exciting. So once again, if you sign up for the Quest Expo, use the code Carson19, get half off, get the replays to the Dallas Expo of last year and then tickets to this one. Once again, if you use Carson19 when you sign up for a new account, hopefully you're signing up for a Roth. If you don't have one already, not only will you get your own account, you also get a free account also for a spouse, loved one, child, friend, whatever. For the most part, just use the code CARSON19 when you check out. I mean, you're very busy. I mean, you're getting all that across the country. Did you keep track of how many events that you attended in 2018, Nate?

Oh, man, no. But a lot of them run into each other. I do know a lot of them are on weekends. So I believe I work 39 weekends out of the year, which is 75% of the weekends. But I also travel a lot. I know upcoming, I've got a lot of. We've got a lot of stuff going on. I'm flying out to North Carolina to go speak with Jay Connors Group. I'm going to Newport Beach. Aaron Halderman Note Conference. Yep. Going to. That there's. Well, yeah, going to Vegas in April for an event out there.

Paper Source Summit. Yeah.

Yeah. So we're just going all over the place, man. I mean, I enjoy the travel. I enjoy getting out out of Texas, honestly, meeting investors that may be kind of familiar with self directed IRAs. But it's the first time seeing us and we're being asked to go different places too. There's a lot of states that are really, really courting us and calling our name to come out there. Florida being one, the Carolinas. So we love going out there. We've got a lot of clients out there, Baltimore area, all that stuff. You're going to be seeing Quest Trust company in a state near you very, very soon, outside of Texas, obviously.

Coast coverage with Quest Trust?

Coast to coast. Yes.

That's awesome. Any personal goals for 2019? Because I haven't had you on in a couple months, but I asked Ingrid and Keaton what they were focused on last month. Do you have any personal goals for Quest or business wise or things like that for 2019 that myself or any of our notenation might be able to help you out with?

Sure, yeah. Of course. One of the two, I think milestones that we're really trying to reach is we want to hit that 20,000 client mark. I think that's a huge mark. When I started back in 2012, we were sitting at about 4,900 clients. Wow. We're over 17,000 now or consistently growing. So I would love to hit that our 20,000 client mark. And with that also being said is we're always talking about how much cash Quest Trust sits on. Now. What does the cash Quest Trust sits on? It's the cash that's uninvested in our clients self directed accounts. And you know and I know Scott, most of our clients like to be lenders. They like holding notes in their retirement accounts. So if you are not familiar with Quest, one of the other things that Quest allows you to do is not only self direct your own retirement accounts into what you're knowledgeable about, but also dip into potentially other people's retirement accounts as a private funding source for whatever other investments that you have. So we've been creeping up on this number which we haven't eclipsed yet, but I want to. Which is 300 million in cash. Wow. Undirected cash. We have about 1.7 million in total assets under management.

But 1.7 billion in management, don't you?

Billion? Yes.

You said million. That's correct.

I say million. I apologize. 1.7 billion under management. But 300 million is in cash, so. Or almost 300 million. We want to get that 300 million mark. That's just a nice even number.

Well, that's good. It's what you waited because that's going up as you've added new clients. Stuff like that people are investing. So the ratio has gone down a little bit, which is good. That's phenomenal out there. That's. People are putting their money to work in their new year.

Yeah. And I will tell you this little fun fact. January was our highest transaction month in Quest history.

Wow.

We funded over 60 million in investments.

Wow.

Yeah. The large 700 investments totaling $60 million one month.

That is worth the applause O meter.

I give a lot of credit to our transactions team. They did a phenomenal job. Very little complaints, very little speed bumps. I mean, they did that obviously people don't get to see, but they did. Those 700 investments as smooth as you can have them, with very little complaints. You get somebody that's upset here or there. But 99.9% of those investments went out smooth, 24 to 48 hours, no problem.

Yeah, I will vouch for that, too, because we're constantly working with Quest clients, wiring funds into the accounts, whether it's quarterly payments or paying off deals as we wrap them up, and vice versa. Rinse and repeating there. And you guys have come a long way. The portal, it's still got a few bugs on it, but you guys are working through it diligently, your whole staff over there. And I know I speak for Steph because Steph is probably on the phone with him weekly on as we're funding deals or paying quarterly payments and things like that. Amazing staff, especially in the private placement side. Denise Taylor, my gosh, does an amazing job. Preaching to the choir. I know you know that.

Yeah, she's great. And the good thing about Denise, she's still a client. She started out as a client first and decided that she loved us so much she wanted to work with us. So not only is she a client and she's a great transaction representative, like you said. I mean, by no means are we perfect. I don't know that you can be perfect in a service industry servicing 17,000 clients. And obviously, with the hiring spree that we're on, you know, sometimes you might deal with a new person, but at the end of the day, I would say we always care. Especially with the portal. We built that portal from scratch when the people approached us, you know, or when we approached them to build this new portal, there's no roadmap for that. There's no other company. And they asked us, they said, who do you want to emulate? Like, nobody. We want to be the people that pave the road on this thing. So. And we just released this. So we're actually encouraging clients to give us some constructive feedback because we take that feedback very seriously. We try to emulate all that stuff or put that stuff into the portal so that it works for 99.9% of the clients. Which by the way, I will tell you this, that we were nominated actually for that portal. Not the success of it right now because we're still going to work out some kinks, but the creativity of it, the advancement of it because again we're holding assets from real estate to horse firm. We got to make sure this portal like can handle all of it. Yeah. But we actually are in the process of being nominated to Salesforce as a case study. So for the building of the portal. So I mean people don't obviously realize that. They just see the end result. But there was a lot of work that went into just getting it to where it was and I still think it's better than the old one. We're still working out some kinks and making it sure that it works for everybody. So. Perfect.

That is awesome. And like I said guys, there's a lot of great things you can do to submit your annual reports, upload payments, wire stuff in. You can do a lot of great things out there. And you guys working to where everything is in place, you could actually fund in minutes on a transaction versus 48 hours.

Yes. And Nathan keeps reminding me not to say that because but I mean the reality of it is once we get the transaction part of the portal done, it will allow you to submit your investment docs by just a simple upload, take a picture, fill out your DOI all in the same time. Do your read and approved signatures without printing or signing anything. Just click a disclaimer box that says I've read and approved all these documents and if everything comes through correctly, all we have to do is audit it and fund it. Literally could take 90 minutes.

That's awesome.

It's coming. We want to make sure that it's perfect. So we're still, we're at the very tail end of it. We even have a chat feature where you can talk directly to the transaction specialist through that portal and pay your fees right there. It's all one stop shop. If you do everything correctly, money's out the door.

Good stuff. Good stuff. Well, I tell you what, we are honored to be a big contributor to T Quest. Ingrid told me we're the number three referral accounts this year.

Yes, number one.

That's what my goal is. That's always our goal for you.

Yeah, you've always been great, Scott. I think out of everybody, we enjoy working with you. You're just so fun to work with. You're always pushing people to look at our services and look at our education. And, I mean, you're just a fun guy. You know, the vests, I mean, you can't get past that. Green vest is just something that I wish I could see that every week. It just puts a smile on my face. It's so colorful. Green means money. I just need to see more of it.

That's the whole idea on your face. The big green giant. Ho, ho, ho. We close notes.

There you go. That's the jingle.

And on that note, we're going to wrap it up for this episode, let you get back to your work there today. There. But, Nate, thanks for taking time on Money Mondays to come on out, share all the great stuff. As always, know you're a very busy, hectic schedule. We actually see more of each other on the road than we most of the time in locally.

But can I ask you a personal question?

You can ask me anything.

Have I not been on the show lately? Because the Seahawks used to kick the butt of the Dallas Cowboys, and now that you guys won, now I get the invite back.

No, that's not the case because you've been on when the Cowboys lost the Seahawks last time.

No, that's why I said I thought you might have just been a little hurt that we kept beating you guys now. Now that you beat us, now it's like, okay, we'll bring Nate back.

I'm always glad to have you, brother. Always glad to have you. That's why I was expecting. I was like, I surprised I got a helmet when you're texting me. I was like, what am I going to get?

There's always next year. There's always next year.

And with that, we'll wrap it up for this episode. Don't wait till next year. Go out and get your funding and get your IRA set up for last year now. And get those deals funded. Guys, like we talked about before, invest in your future. Don't invest in objects. Invest in things that you can do. It'll make a big impact on your life 5, 10, 20 years from now or even new. So, like I said, check out questtrust.com for their latest events. The trillion dollar mixers, the March Madness, the Quest Expo, all those great events out there, plus their regular weekly classes on their Facebook live page as well. So once again, Nate, thanks for taking time out of your busy schedule. And we'll see you later, bud. All right.

Thank you. Appreciate it. Thank you, Scott. Thank you, Steph. I know you're listening out there. See you guys.

All right, guys, I'll wrap up this episode. See you all at the top.