DALLAS, July 11, 2019 – Custodia Financial, the creator of Retirement Loan Eraser (RLE), announced today that it has appointed Roger Ochs, former CEO of HD Vest, to its Strategic Advisory Council (SAC). In his role on the SAC, Roger will provide guidance and subject matter expertise on corporate matters, capital markets, and corporate governance.
As CEO of HD Vest until his retirement in 2017, Roger guided the firm to become the leading financial services company supporting tax professionals delivering comprehensive services including securities, insurance, money management services, and banking services. While at HD Vest, Ochs was named by Accounting Today as one of the “top names to know” in the accounting industry.
In addition to serving on the SAC, Roger is a member of the board of eSecLending, a provider of securities financing, collateral and liquidity services; Chairman of the Board for Door, Inc., a residential real estate brokerage firm; a member of Parthenon Capital’s Industry Advisor Council; and a member of Securities Industry Financial Markets Association’s (SIFMA) Advisors Council. He is also a member of the Texas and Dallas bar associations.
“Roger brings a unique perspective to our Strategic Advisory Council,” said Tod Ruble, CEO of Custodia Financial. “First, he’s a true entrepreneur. His experiences growing HD Vest from a smaller firm into a nationally-recognized, technology-driven organization couldn’t be more relevant to Custodia. In addition, he knows the accounting and audit world, and an important benefit of RLE is mitigating audit risk.”
“Tod and the rest of the Custodia team are doing innovative, exciting work, and I’m thrilled to join my fellow Strategic Advisory Council members in helping to guide them on their mission,” said Mr. Ochs. “Loan defaults represent not just a retirement security and plan fiduciary problem, but also a significant audit risk, particularly given recent IRS changes to plan sponsor reporting. I see Retirement Loan Eraser as a win-win for employees and the companies they work for.”
Mr. Ochs joins a growing group of industry leaders on Custodia’s SAC, including Dave Liebrock, former President of Workplace Investing at Fidelity Investments, Mark Herman, formerly President and COO of CNA Insurance’s Specialty Lines business, and Bradford Campbell, a Partner at Drinker Biddle & Reath LLP. Custodia’s objective for the SAC is to continue to add seasoned leaders in complementary disciplines critical to solving the 401(k) loan default problem. The SAC will advise Custodia on a range of strategic issues, including product development, distribution, insurance, and regulatory matters. Custodia’s SAC will support its full-time team of retirement experts that includes former senior executives from Fidelity Investments, Financial Engines, SunGard, Voya Financial, and Wells Fargo.
About Retirement Loan Eraser
Loan defaults in 401(k) plans are coming into focus as a significant problem harming retirement readiness. Retirement Loan Eraser (RLE) is an automated loan insurance program that prevents 401(k) loan defaults, protecting plan assets, and immediately improving retirement outcomes. RLE is the only solution available that helps plan sponsors prevent loan defaults by repaying the outstanding loan balance of borrowers losing their jobs, while reducing fiduciary risk.