Quest Capital?

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Dec 28, 2008 10:10 pm
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Jan 27, 2009 4:26 pm

I was a registered rep with them for a number of years when I lived in SoCal.  On the positive side, they have a good variety of mutual fund familes they represent, along decent clearing services.

 
That being said, there are several negatives (at least in my opinion) to be aware of:
1.  Their annual "management fee" is quite high, and increased dramatically every year, with no explanation.
2.  Oft times, they would "forget" to properly bill the renewal license fees (including their "management fee", and then hit you up the following year for immediate payment.
3.  The former president/owner, David Chen Yu, had effectively been barred from the securities industry, but remains quite active (most likely without the SEC's knowledge) in the day to day operations.  FWIW, when I found out that he was still involved in running Quest Capital, that was my main reason for leaving Quest.
4.  Their annual convention (usually in Las Vegas) is also the annual compliance review.  Attendence is mandatory, and no accomodations are made for those that are unable to attend.
5.  Although they are a RIA, they have no ability to offer RIA services through their registered representatives.
 
The best summation I can say is that they're not "broker friendly".  You can do better elsewhere.
May 12, 2009 4:57 pm

anyone heard or work with these guys?

May 4, 2016 6:37 pm

Hi All,

Just responding to the prior posts, Quest Capital is truly a broker-centric independent BD and SEC-registered RIA with reps throughout the country. We clear through RBC and have developed one of the most comprehensive offerings for RRs and IA's in the industry. I would welcome the opportunity to provide more information regarding our firm.

Regards,

Joe Nikolson, CEO
Quest Capital