Is Carry insured? Who is the custodian of my account?

When you create your Solo 401K through Carry, we help you create the plan. However, you are the plan administrator. Carry never has custody of your funds, meaning they’re owned and titled by your 401k plan, not by Carry.

When you open an integrated brokerage account through the Carry application with DriveWealth LLC and make a cash contribution into your Solo 401K, the account is with DriveWealth, which provides access to FDIC insured bank accounts / SIPC insured brokerage accounts. DriveWealth is the custodian of your assets in those accounts, and you retain full ownership and control and can access the funds at any time.