Are 401 k self-directed?

A self-directed 401K, also known as an individual 401K, 401K alone, 401K for the self-employed or SolOK, is a retirement account specifically designed to support businesses that employ only the owner, spouse and business partners. Self-directed IRAs are in the hands of a custodian chosen by the investor, usually a brokerage or investment firm. This custodian owns the IRA assets and executes the purchase or sale of investments on behalf of the investor. An individual can transfer previous 401 (k) funds, SEP IRA funds, SIMPLE IRA funds, traditional IRA funds, and even Gold based IRA funds; in fact, any previous “qualified” fund.