My company recently moved our 401k servicing from Wells Fargo to Principal Capital. I was looking through the investment options and at the very bottom was "Self directed brokerage account".
Turns our that option links to a Schwab PCRA (Personal Choice Retirement Account) and allows you to transfer up to 95% of the 401k balance into a Schwab PCRA. I already had a Schwab account so I clicked through and about 5 minutes later had it all set up.
I did a test transfer of 10% of the funds in my 401k and they showed up this morning at Schwab and now I can invest in anything I like, not just the funds chosen by the 401k administrators.
There is a limit of 1 transfer every 30 days so I'll have to wait to transfer the rest but I'm stoked to be able to manage things on my own.
