|By PR Newswire||
|January 27, 2014 02:00 PM EST||
DALLAS, Jan. 27, 2014 /PRNewswire/ -- Today Custodia Financial announces the addition of Erika Chavez, a seasoned professional hired to manage the company's innovative Retirement Loan Eraser™ program. Retirement Loan Eraser is a simple, affordable, guaranteed loan protection program that prevents retirement plan accounts from losses upon borrower's death, permanent disability or unemployment.
Ms. Chavez brings more than 17 years of Institutional Retirement Plan experience to the team, as a registered representative on the Plan provider side and the consulting side of the industry. She comes to Custodia from the U.S. affiliate of a French multinational aircraft and rocket engine, aerospace component and security company, where she managed a complex 401(k) transaction of approximately $52M and $300M respectively.
Chavez spent several years with Lockton Companies, a well-known benefits consulting firm in Dallas where she managed more than a half billion dollar complex book of business which consisted of 401(k), Defined Benefit and Non-Qualified plans, Chavez also performed due diligence site visits to many of the top industry plan providers.
She began her career at industry giant Fidelity. During this time she solidified a deep understanding of administrative and operational complexities as they relate to provider recordkeeping systems. In addition, Chavez has developed a passion for plan design, implementation and compliance.
"Erika thrives on solving complex problems and maintaining strict compliance as it relates to fiduciary management and regulatory challenges. Her experience spans the spectrum and she is known for effectively guiding her clients through all the nuances involved with Merger and Acquisitions, plan consolidations, conversions, roll-outs and more," said Tod Ruble, CEO of Custodia Financial. "Her experience will allow Custodia to better serve our existing client base and better protect Participant borrowers who deserve protection as a default," added Ruble.
Involuntary loan defaults cause in excess of $10 billion of retirement leakage annually. When asked about loan leakage, Ms. Chavez responded, "I specifically remember speaking to my clients about loan leakage back in 2011. It was important commentary that hit close to home for many of them." "By joining Custodia, I will be better able to advocate for the prevention of involuntary loan defaults and work to ensure borrowers are fully protected. Additionally, I can help plans quickly implement the simple program necessary to prevent unnecessary retirement leakage," Chavez added.
About Custodia Financial
Headquartered in Dallas, Texas, Custodia Financial provides innovative programs preventing loan defaults on 401(k) and other defined contribution plans. Custodia's Retirement Loan Eraser™ program is the only one of its kind, designed to stem the multi-billion dollar problem of retirement leakage caused by involuntary loan defaults. www.custodiafinancial.com or 1-888-235-0936
SOURCE Custodia Financial
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