A Fidelity Investments Solo 401k brokerage account with checkbook control from My Solo 401k Financial is ideal for those looking to still have the option to invest in equities while also gaining checkbook control over their retirement funds for investing in alternative investments such as real estate, notes, tax liens, and private shares in addition to processing a solo 401k participant loan.
A Fidelity Investments Solo 401k with checkbook control allows for the following
Fund Solo 401k alternative investment purchases, e.g., real estate, precious metals, tax liens, promissory notes, private placements, etc. by writing checks from the Solo 401k Fidelity brokerage account.
Solo 401k Loan
After we prepare Solo 401k loan documents, process Solo 401k loan directly from the Solo 401k plan Fidelity brokerage account.
Continue to trade equities and grow your retirement funds tax-deferred, deposit investment gains from your Solo 401k’s alternative investment holdings (e.g., rent check proceeds from real estate) directly into your Solo 401k Fidelity brokerage account, and make your annual Solo 401k contributions directly into the brokerage account.
How it works
Fidelity is simply providing brokerage account for your Solo 401k, and My Solo 401k Financial is your Solo 401k provider. In other words, even though Fidelity also offers Solo 401k, their Solo 401k plan document restricts you to only investing in stocks and mutual funds; however, by using our Solo 401k document, which allows you to serve as trustee of the Solo 401k and invest in alternative investments such as real estate, precious metals, tax liens, promissory notes, private stock, etc., as well as process Solo 401k Loan, Fidelity is not involved in the administration of the Solo 401k.
Documents for Opening Fidelity Solo 401k Brokerage Account
To open Fidelity Solo 401k with checkbook control, you will need to submit My Solo 401k Financial Solo 401k plan documents, which we prepare in 24 hours, along with Fidelity’s special brokerage account forms and checkbook paperwork, which My Solo 401k Financial will fill out for you.
Fees Charged by Fidelity Investments
Because Fidelity is simply holding the funds in a brokerage account under the solo 401k offered by My Solo 401k Financial, the only fees that apply to the Fidelity brokerage account are:
Stock trading fees of $7.95 per trade; and
outgoing wire fees of $15.00 per wire.