You get what you pay for and I think a lot of sole proprietors get that with a free solo 401(k) offered by their friendly brokerage house. Most solo 401(k) account holders get zero support. A burgeoning part of my ERISA practice is dealing with these solo plan sponsors and their compliance issues, mainly dealing with the 5500s they were supposed to file, and didn’t.
Since these small plan sponsors get zero help, this is another point where I think could be an attractive way of generating buzz and adopoting employers for a pooled employer plan.
