Dallas, TX

About Us

Headquartered in Dallas, Texas, Custodia Financial is an innovator dedicated to improving retirement outcomes. The company is a collaboration of industry experts with a history of successfully launching attractive new products into defined contribution platforms.

Custodia spent four years developing its proprietary Retirement Loan Eraser™ platform. Designed to prevent retirement leakage caused by involuntary loan defaults, Retirement Loan Eraser ensures tax and regulatory compliance to effectively meet the needs of participants, plan sponsors and plan providers.

Meet the Custodia Senior Leadership Team

 Tod Ruble, Chief Executive Officer

Mr. Ruble’s career has spanned a broad array of financial services, including commercial real estate, investment banking, and insurance and benefits. His proven successes in identifying emerging trends, creating strategic vision, and building successful institutional platforms led to his appointment as Chief Executive Officer of Custodia Financial in 2010.

Mr. Ruble and his team have created Retirement Loan Eraser, a comprehensive solution to the systemic problem caused by involuntary 401(k) loan defaults creating $6-10B of retirement leakage annually due to death, disability, and involuntary job loss.

As a thought leader in the retirement and benefits industry, Mr. Ruble is a sought-after public speaker and press commentator. He has a deep understanding of America’s complex financial system and an equally intimate knowledge of policy, regulations and process.

Prior to Custodia Financial, Mr. Ruble co-founded Harvest Partners (“Harvest”), a specialized commercial real estate firm focused on development of mixed-use urban environments. Under Mr. Ruble’s leadership, Harvest created institutional quality real estate projects exceeding $600M.

Mr. Ruble attended the University of Texas at Austin and is a member of the Board of Directors of the Cotton Bowl Athletic Association. Mr. Ruble lives in Dallas, Texas with his wife and two children.

 Kevin Smart, Chief Financial Officer

Kevin Smart joined Custodia in 2010 as Chief Financial Officer. He is part of the leadership team working to champion a comprehensive solution to the systemic problem causing more than $6-10B of retirement leakage from 401(k) plans annually.

Prior to Custodia, Mr. Smart served in various finance roles focusing on venture capital investment, mergers and acquisitions, and strategic and operations planning for companies including Harvest Partners, i2 Technologies, and Deloitte & Touche.

He holds a B.A. in Economics from the University of Texas at Austin and an M.B.A. with a concentration in Finance from the University of Oklahoma and is a current candidate for The Chartered Financial Analyst (CFA) designation.

Mr. Smart is an active member in his local community, serving on the Board of Directors for the Rockwall County YMCA among other volunteer positions. He resides in Heath, Texas with his wife, Susan Smart, M.D. and their two children.

 Dave Liebrok, Independent Advisor

For 30 years, Mr. Liebrock led a successful career as one of the industry’s leading retirement plan executives, with prominent positions at Fidelity Investments and most recently with CAPTRUST as a member of their Advisory Board.

Mr. Liebrock advised 401-K, 403-B and Defined Benefit plans totaling more than $2.5 billion. He acted as a fiduciary advisor with regard to plan investments, record keeping, participant advice and overall cost of the plan. Today, he is active in the field as an expert advisor helping Custodia roll out the company’s groundbreaking Retirement Loan Eraser program.

 John Arant, Senior Advisor

Mr. Arant is a highly regarded institutional senior sales executive who will further define and engage users in Custodia’s RLE go to market effort. Custodia will benefit by leveraging the contacts and expertise of an individual who has been responsible for the sales of over $40 billion of new, innovative institutional retirement products and services to all segments of the defined contribution market for large retirement plan providers, including: Aetna, Liberty Financial Group, American General/Valic and Lincoln Financial Group.

Background

Prematurely draining assets from retirement accounts, or Retirement Plan Leakage, is widely acknowledged as a significant problem.


$6 Billion of Loans Default Annually. 86% Loans Default Upon Job Loss

Source: February 2014 Wharton/Vanguard study


Borrowing from retirement accounts is an important plan feature, but is full of risk – a reality of which most borrowers are unaware.  According to a February 2014 Wharton/Vanguard study, 40% of participants take loans over a 5 year period, and $6 billion of those loans default annually with 86% defaulting upon job loss.  (Most loans are due in full within 90 days of separation.)

Involuntary loan defaults negatively impact:

  • Participants:  Plan asset leakage significantly reduces retirement readiness;
  • Plan Sponsors: Undermines the employer’s efforts (including often the making of employer contributions) in providing adequate retirement security;
  • Plan Providers: When loans default, providers lose assets under management and the fees associated with those assets.

The key problem surrounding involuntary loan defaults is that participants do not have the liquidity needed to repay the outstanding loan.  No existing or proposed solutions such as limiting loan access or extending repayment time solves this issue.

Participants who are counseled to borrow rather than simply taking an early withdrawal make better financial decisions since loan repayment replenishes their retirement account. Unfortunately, involuntary loan defaults are beyond participants’ control and have the same negative impact to retirement security as an early withdrawal.

Plan leakage caused by involuntary loan defaults is preventable.  Borrowers deserve the access to voluntary protection that Retirement Loan Eraser provides.

Receipt

Retirement Loan Eraser™

Retirement Loan Eraser is the ONLY available solution to leakage that improves retirement outcomes by reimbursing defaulted loans.

Education, better disclosures and plan provisions alone will not mitigate the problem of unprotected plan loans and retirement leakage due to defaults.  Until Retirement Loan Eraser, there was no solution to maintain account balances upon an involuntary loan default.

Retirement Loan Eraser will repay loans upon involuntary loss of job, disability, or death and will not diminish plan assets when paid with an after-tax payroll deduction.

Retirement Loan Eraser is:

Affordable

Less than the cost of protecting your cell phone

Simple

Auto-enroll with participant opt-out administered completely by Custodia

Flexible

Customized in partnership with each provider to fit existing loan administration and operational protocols

Exclusive

The only liquidity solution available today that solves retirement leakage

Retirement Loan Eraser is available to the market in partnership with any provider whose plans choose to adopt loan protection to safeguard their plans and participants. Retirement Loan Eraser is tax and regulatory compliant and has been endorsed by many of the industry’s leading benefits attorneys and advisors.

Contact Us

Address

Custodia Financial
17855 Dallas Parkway
Suite 100
Dallas, TX 75287

tel: 214.393.3511

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