St. Louis-based Blue Ocean Portfolios, part of Huntleigh Capital Management, Inc., has launched Ocean 401(k), what it says is one of the lowest cost, full-service 401(k) plans in the industry.
With a focus on diversification, low fees and rebalancing, Ocean 401(k) uses low cost index mutual funds to construct and maintain diversified model portfolios for participants to choose from. The average total participant cost in the plan is 0.79% of assets annually, including the expense ratios of the underlying index funds, the company said in a statement, and this includes investment education, statements, online access, and investment management fees.
