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system
administrator vs broker vs custodian for a solo 401(k)?
user
their paperwork should help you along.  schwab is the broker and custodian, you are the administrator.  there's virtually no paperwork after the account is opened, until you hit $250k in value, and then there's one extra irs form you need to fill out each year.  see one-participant 401(k) plans for a good irs description of form 5500. disclosure - i use the schwab solo 401(k) myself, and the only downsides, in my opinion, the don't offer a roth flavor, and no loans are permitted. both of these features would offer flexibility.
assistant