Rated 5 out of 5 by MV207 Transition to Self-employment
My Fidelity advisor looked at my changing situation and recommended a SE401(k) - best thing I did to save taxes last year and going forward. I will sequester the max for a few years before Social Security kicks in!
May 11, 2015
Rated 4 out of 5 by Dave A. Fidelity solo 401(k)
The account was easy to set up. Customer service representatives answered all of my questions about the plan documents. The full menu of funds and ETFs are available with no additional administrative fees. The only drawback is that contributions can't be made electronically.
May 4, 2015
Rated 5 out of 5 by yetisaurus Fantastic overall
I have virtually no complaints about the Fidelity Solo 401(k). The customer service reps are knowledgeable and were very helpful in getting me set up. The information available on the website is great. I love being able to invest in any stock, bond, etf, etc. that Fidelity offers.
My one and only complaint is that there's still no way to electronically deposit funds in the account. Fidelity takes online deposits for every other type of account, so it seems like they should be able to get this figured out. Come on, Fidelity!
Apart from that, I have absolutely zero complaints.
May 4, 2015
Rated 5 out of 5 by lkgh Fidelity 401k excellent in all regards
I'm VERY happy with my Fidelity 401. All the research, tools, investments, and customer service I could ask for. Customer service makes set up and administration a breeze. Couldn't ask for more.
April 21, 2015
Rated 5 out of 5 by cv April 2015 look
Overall, I'm delightfully satisfied so far. The Fidelity investment advisor was enormously helpful.
April 17, 2015
Rated 4 out of 5 by dignatius Solid solo 401k option
Fairly easy to setup and administer. Deposits are processed fairly quickly although there is no electronic transfer available for this type of account. Very strange as I can do electronic transfers for my Fidelity IRAs. That is probably the best way for Fidelity to improve this product.
April 14, 2015
Rated 5 out of 5 by MFMIA Excellent Plan for Self Employed
The Fidelity Self-Employed 401(k) plan is easy to set up and is an excellent way to defer taxes for both your 401(k) and for profit sharing also. I was able to manage our tax liability by using the profit sharing feature within the IRS limits on top of the annual 401(k) limits. There are no annual costs for setting up or any ongoing maintenance fees that you find on most other plans.
March 23, 2015
Rated 4 out of 5 by Bobby B. Only one glaring omission
This plan is great. Wide variety of offerings, no account fees, easy management through the same familiar web site. Unlike one of their main competitors they do accept incoming rollovers.
But for the life of me I just can't figure out why they won't allow online contributions. They've been in the game long enough that this shouldn't be a big undertaking, so to me it just seems like they prefer to have clients mail checks to them. Why?
March 16, 2015
Rated 3 out of 5 by Selva Not easy to deposit money
I like all the features of solo 401k, except i can't deposit via ACH.
March 9, 2015
Rated 4 out of 5 by Brian Great, but needs Roth feature
The phone representative who walked me through the account set-up did an excellent job. The rep made a process that could have been complicated, very easy. I was even able to physically drop the forms off at a local Fidelity "store", rather than mailing. The only feature that the Self Employment 401K lacks is the Roth possibility. It would be nice to be able to invest 50/50 into pre-tax and Roth for future tax diversification.
March 9, 2015
Rated 4 out of 5 by joel IPOS
I have yet to be able to be part of any IPO...
It is insulting that you offer to your smaller customer (I have over $ 500K invested with Fidelity) and NEVER give us a opportunity.
March 2, 2015
Rated 4 out of 5 by Tee Exactly what I needed
As a self-employed software consultant with an LLC, I needed an easy and flexible option to save for retirement. Fidelity's Solo 401k met my needs and I'm thrilled with its ease. I already love Fidelity's customer service and when I needed help with a question (I overcontributed the first year by accident!) they helped me through the process to resolve my error.
February 10, 2015
Rated 5 out of 5 by VElizabeth Excellent Solo 401K tools and advisors
I used this tool to give me directional insight into my contribution. I also spoke with the 401K specialist. I have a tax accountant who mapped this out for me, but it was great to get some quick answers on a few contribution questions
January 24, 2015
Rated 3 out of 5 by Elliot Few challenges
Their are two main issues I have with the account that need to be addressed. First, it doesn't allow me to transfer money into the account from the site. I have to go to a branch or call the 800 number. The other item I would like to see addressed is it doesn't show me my total contribution to the plan for the year. The Roth IRA I have shows this on the site so I can track it easily. Outside of theses two items, I am very happy with the account.
January 6, 2015
Rated 1 out of 5 by bssd Very difficult to get hold of custmer service agent
I waited almost an hour with no response. I decided to give up and call back later to try my luck.
December 22, 2014
Rated 5 out of 5 by Don Convenient
I like the convenience. and advice provided by the office in NYC and call center.
October 21, 2014
Rated 4 out of 5 by Ari Wish I could do ACH transfers
I love the plan, the options, and I've had some great experiences with customer service at Fidelity. The thing that annoys me though is that for a solo-401K (as opposed to other plans I've had at FIdelity), I can't make a contribution electronically via ACH transfer - I have to send in a check.
October 7, 2014
Rated 4 out of 5 by Matt Secure and Many Investment Options
Straightforward investment options and voluminous research available. Could be improved by offering ACH Deposits.
September 3, 2014
Rated 4 out of 5 by Dallas Business Great...except for one thing
The ability for my business partner and I to contribute both profit sharing and payroll contributions are great.
As stated elsewhere - Come On Fidelity. I should not have to send you a paper check every month. You are the only company I cut a paper check to now. Let's get with the times - give us ACH!
August 18, 2014
Rated 3 out of 5 by MGH Paper Checks Required? Why?
I am generally very pleased with my Fidelity retirement plan and the supporting services, with one major exception:
Why do I have to print, sign and mail a paper check with really useless paper form? I know you can do this on-line. Why not for this kind of account?
August 14, 2014
Rated 5 out of 5 by Rich On Line contributions would be nice....
The Self Employed 401(k) plan is great in every respect. However, it would be perfect if I could make contributions on line rather than via checks and snail mail.
August 13, 2014
Rated 4 out of 5 by Jeb w great option for self employed
The 401k for self employed persons isa great option. My only complaint is I wish I didn't have to mail a paper check with a remittance form every month. Get electronic transfer!
August 13, 2014
Rated 3 out of 5 by Johncros Fidelity SE 401(k)
I wish the account allowed online or etf deposits instead of requiring everything to be sent via the mail.
I also wish it qualified as a real 401(k) account under ERISA and would therefore be protected from personal lawsuits like ERISA-qualified accounts.
August 6, 2014
Rated 1 out of 5 by gro Incompetent service
I called trying to get the form to amend my plan to add another affiliated business. They send me an email supposedly that has a link to the form, but it just gets me to the main retirement page. After 3 days of calling and searching, I still can't locate the form.
July 10, 2014
Rated 4 out of 5 by benMD Inexpensive and Diverse
Would be nice to make transfers from my banking account without having to call a rep to do it for me. I do love that IRA rollovers are possible.
June 12, 2014
Rated 5 out of 5 by Art Vandelay Easy
I am the admin and only participant. Easy to set up, easy to use. I wish I could make deposits electronically and not be limited to hard checks only.
May 14, 2014
Rated 4 out of 5 by Lenny A great little solo 401k plan
This is a great plan for very small businesses. It has no fees, and employees can invest in whatever they want, including several index ETFs with no transaction fees.
There are a few areas where they could improve:
1. Electronic contributions. Right now, contributions are on pencil and paper and snail mail. Would be nice if it could integrate with some of the major small business payroll vendors.
2. Automatic fund purchases. Employees have to remember to purchase their ETFs regularly or they'll just have cash sitting around in their accounts.
3. Offer a Roth 401k option.
But other than that, this is a great plan! Highly recommended!
January 22, 2014
Rated 5 out of 5 by vickh need online deposits
need online deposits vs. checks. And the ability to separate employee/employer contributions online
October 9, 2013
Rated 4 out of 5 by yc Super fast self employed 401K setup
Fidelity helped me setup a self employed 401K plan within no time. The paperwork was minimal and within 30 mins, my account was ready. They were very helpful in explaining how contributions can be made along with limits etc.
September 20, 2013
Rated 1 out of 5 by ebarr10031 401(k) Solo
Fidelity Solo 401(k) plan is set up as a Keogh plan and this will not allow access to loans. I found this out the hard way. The plan documents do not allow the loan. When I set up the account with Fidelity this was one of the major objectives was to have the safety of a plan loan. I was told by a fidelity rep that is was available. He was wrong. If you are setting up a Solo 401(k) and want a loan don 't use Fidelity.
September 18, 2013