Solo 401K checkbook - Local bank vs Fidelity brokerage
I'm in the process of rolling over my existing 401k from an old employer into a new solo 401k through sense financial. The solo 401k trust is paid for and created but I need to complete the rollover. I have the option of using an online brokerage account like fidelity which will have checkbook control and the ability to invest in stocks and mutual funds along with a loan option. I also have the option of setting up the trust at a local bank.
Is there any benefit to opening a business checking account at my local bank in the name of my 401k trust and then transferring funds out of that account into an online brokerage? Or should I just roll everything over to fidelity to keep it simple? I definitely want to have the account invested in mutual funds and stocks when it is not being used for investing in real estate and lending purposes.
If you have a solo 401k account I'm looking forward to hearing your advice. I am in the beginning stages of investing in real estate and the first step is to get my finances ready. Thanks!