No Fees 401k provides a long list of the most popular self-directed brokerage accounts from top brokers like Charles Schwab, Vanguard, and Fidelity, eTrade, TD Ameritrade, and more. Charles Schwab is our default choice for No Fees 401k, and we have been using Schwab as the custodian for most of our 401k plans for over 20 years.
Self-directed brokerage accounts are ideal for small business 401k plans because each 401k participant can select his or her investments for their retirement savings. Employers and plan trustees' fiduciary liabilities and responsibilities are significantly reduced because all investment decisions are made by 401k plan participants.
Unlike most traditional 401k plans, self-directed brokerage 401k plans relieve the employer of the responsibility and liabilities associated with "pre-selecting" a menu of "employer-approved" investments for inclusion in the company's 401k. With No Fees 401k self-directed brokerage accounts, each individual plan participant makes independent investment decisions about how his or her 401k retirement savings are invested.
We at Pension Systems Corporation, distributor of No Fees 401k, has always worked hard to keep 401k plans as affordable as possible for our clients, many being small and very small companies.
In the 401k industry, the financial advisors and 401k administrators who provide small 401k plans to small businesses all have one thing in common.... 99.9% of them skim disclosed (and un-disclosed) fees from workers' 401k accounts, in most cases without the savers knowing about it. No Fees 401k is an exception to this norm in that we do not earn any compensation, either directly or indirectly, from our clients' 401k plan assets. Our published prices, available online for all to see, are the only compensation we collect. We will never collect revenue-sharing fees, commissions, or fees skimmed from 401k plan assets, EVER.