Please check out this good question from our Daily Live Zoom call. Subscribe to our YouTube Channel to get notifications of our Daily FAQs.
QUESTION:
Are there any third-party fees that should expect to pay when setting up accounts for our self-directed solo 401k setup with My Solo 401k Financial?
RESPONSE:
Great question – we help our clients open accounts at the bank or brokerage of choice including Fidelity, Schwab, etc. just to name a few.
All of those brokerages open free brokerage accounts for our clients even including free online trading as well as free checkbook access.
With respect to the brokerage account investment options, the options will be the same as those available via an IRA (e.g. stocks, bonds, mutual funds, ETFs, etc.).
Moreover, since the account is governed by our plan, one can make alternative investments from the brokerage account (e.g. real estate, notes, etc.) as well as other features that are popular reasons why clients set up accounts with us (e.g. Mega Backdoor Roth Solo 401k, 401k loans, etc.).
