Our team is hands-on in helping you open your account at the bank or brokerage of your choice – below are the top benefits and features of each option:
| Top Solo 401k Account Options* | |||
|---|---|---|---|
| Features | Fidelity | Schwab | Bank/Credit Union |
| Typical Time to Open Account | 1-3 business days | 4-5 business days | 4-5 business days |
| Online Process |
✔
|
No | Varies |
| Payroll Integration with Automated Recurring Contributions |
✔
|
No | Varies |
| Payroll Integration with Automated Solo 401k Loan Payments |
✔
|
No | Varies |
| Contributions | |||
| Wire |
✔
|
✔
|
✔
|
| ACH |
✔
|
Limited |
✔
|
| Mobile Check Deposit |
✔
|
No | Varies |
| Investments | |||
| Mutual Funds, ETFs, Stocks, Bonds, etc. |
✔
|
✔
|
No |
| FDIC-Insured CDs |
✔
|
✔
|
✔
|
| Make Alternative Investments from Account |
✔
|
✔
|
✔
|
| Access to Funds | |||
| Wire Out |
✔
|
✔
|
✔
|
| Checkbook |
✔
|
✔
|
✔
|
| Debit Card | No | No |
✔
|
| ACH Out | No | No |
✔
|
*Note: We are 100% neutral with regards to where the accounts are opened for your Solo 401k and have helped clients open accounts at 100s of different banks, credit unions and other brokerages such as E-Trade, Interactive Brokers, Merrill Lynch, etc. just to name and few and which may have different features.
