<SEC-DOCUMENT>0000927628-22-000061.txt : 20220209
<SEC-HEADER>0000927628-22-000061.hdr.sgml : 20220209
<ACCEPTANCE-DATETIME>20220209092631
ACCESSION NUMBER:		0000927628-22-000061
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20211231
FILED AS OF DATE:		20220209
DATE AS OF CHANGE:		20220209
EFFECTIVENESS DATE:		20220209

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CAPITAL ONE FINANCIAL CORP
		CENTRAL INDEX KEY:			0000927628
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				541719854
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		13F-HR
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	028-12320
		FILM NUMBER:		22604506

	BUSINESS ADDRESS:	
		STREET 1:		1680 CAPITAL ONE DRIVE
		STREET 2:		SUITE 1400
		CITY:			MCLEAN
		STATE:			VA
		ZIP:			22102
		BUSINESS PHONE:		7037201000

	MAIL ADDRESS:	
		STREET 1:		1680 CAPITAL ONE DRIVE
		STREET 2:		SUITE 1400
		CITY:			MCLEAN
		STATE:			VA
		ZIP:			22102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OAKSTONE FINANCIAL CORP
		DATE OF NAME CHANGE:	19940728
</SEC-HEADER>
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<SEQUENCE>1
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          <cik>0000927628</cik>
          <ccc>XXXXXXXX</ccc>
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      <periodOfReport>12-31-2021</periodOfReport>
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      <reportCalendarOrQuarter>12-31-2021</reportCalendarOrQuarter>
      <filingManager>
        <name>CAPITAL ONE FINANCIAL CORP</name>
        <address>
          <com:street1>1680 CAPITAL ONE DRIVE</com:street1>
          <com:street2>SUITE 1400</com:street2>
          <com:city>MCLEAN</com:city>
          <com:stateOrCountry>VA</com:stateOrCountry>
          <com:zipCode>22102</com:zipCode>
        </address>
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      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-12320</form13FFileNumber>
      <provideInfoForInstruction5>N</provideInfoForInstruction5>
    </coverPage>
    <signatureBlock>
      <name>D Corey Lawson</name>
      <title>Chief Compliance Officer</title>
      <phone>202-539-1039</phone>
      <signature>D Corey Lawson</signature>
      <city>McLean</city>
      <stateOrCountry>VA</stateOrCountry>
      <signatureDate>02-09-2022</signatureDate>
    </signatureBlock>
    <summaryPage>
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      <tableEntryTotal>187</tableEntryTotal>
      <tableValueTotal>828071</tableValueTotal>
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    <titleOfClass>US CORE EQUITY 2</titleOfClass>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>238206</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DISNEY WALT CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>254687106</cusip>
    <value>1524</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9836</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>9836</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ENERGY TRANSFER L P</nameOfIssuer>
    <titleOfClass>COM UT LTD PTN</titleOfClass>
    <cusip>29273V100</cusip>
    <value>165</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20057</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>20057</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ENTERPRISE PRODS PARTNERS L</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>293792107</cusip>
    <value>1096</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49902</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>49902</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ETF MANAGERS TR</nameOfIssuer>
    <titleOfClass>PRIME CYBR SCRTY</titleOfClass>
    <cusip>26924G201</cusip>
    <value>335</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5452</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>5452</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ETF MANAGERS TR</nameOfIssuer>
    <titleOfClass>PRIME MOBILE PAY</titleOfClass>
    <cusip>26924G409</cusip>
    <value>301</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5183</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>5183</None>
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  <infoTable>
    <nameOfIssuer>EXXON MOBIL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30231G102</cusip>
    <value>415</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6781</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>6781</None>
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  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>NO AMER ENERGY</titleOfClass>
    <cusip>33738D101</cusip>
    <value>233</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9343</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>9343</None>
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    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>CAP STRENGTH ETF</titleOfClass>
    <cusip>33733E104</cusip>
    <value>692</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8183</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>8183</None>
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  <infoTable>
    <nameOfIssuer>FRANCO NEV CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>351858105</cusip>
    <value>204</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1475</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>1475</None>
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  <infoTable>
    <nameOfIssuer>GENERAL ELECTRIC CO</nameOfIssuer>
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    <cusip>369604301</cusip>
    <value>321</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3397</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>3397</None>
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  <infoTable>
    <nameOfIssuer>GOLDMAN SACHS ETF TR</nameOfIssuer>
    <titleOfClass>ACTIVEBETA US LG</titleOfClass>
    <cusip>381430503</cusip>
    <value>10035</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105475</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>105475</None>
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  <infoTable>
    <nameOfIssuer>GOLDMAN SACHS ETF TR</nameOfIssuer>
    <titleOfClass>ACTIVEBETA INT</titleOfClass>
    <cusip>381430107</cusip>
    <value>60690</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1720729</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>1720729</None>
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  <infoTable>
    <nameOfIssuer>GOLDMAN SACHS ETF TR</nameOfIssuer>
    <titleOfClass>ACTIVEBETA EME</titleOfClass>
    <cusip>381430206</cusip>
    <value>22877</value>
    <shrsOrPrnAmt>
      <sshPrnamt>618122</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>618122</None>
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  <infoTable>
    <nameOfIssuer>GOLDMAN SACHS GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>38141G104</cusip>
    <value>244</value>
    <shrsOrPrnAmt>
      <sshPrnamt>638</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>638</None>
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  <infoTable>
    <nameOfIssuer>HOME DEPOT INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>437076102</cusip>
    <value>2657</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6401</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>6401</None>
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  <infoTable>
    <nameOfIssuer>HONEYWELL INTL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>438516106</cusip>
    <value>510</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2444</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>2444</None>
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  <infoTable>
    <nameOfIssuer>INTEL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>458140100</cusip>
    <value>812</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15773</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>15773</None>
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    <nameOfIssuer>INVESCO ACTIVELY MANAGED ETF</nameOfIssuer>
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    <cusip>46090A887</cusip>
    <value>312</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6194</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>6194</None>
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    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
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    <cusip>46138E354</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>103550</sshPrnamt>
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      <None>103550</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
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    <cusip>46138E362</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>26635</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>26635</None>
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    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
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    <cusip>46138G102</cusip>
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      <None>70740</None>
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    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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      <sshPrnamt>171239</sshPrnamt>
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      <None>171239</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>4021</sshPrnamt>
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      <None>4021</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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      <sshPrnamt>3203</sshPrnamt>
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      <None>3203</None>
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    <nameOfIssuer>INVESCO QQQ TR</nameOfIssuer>
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      <None>860</None>
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      <None>88541</None>
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      <None>255579</None>
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      <None>48726</None>
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  <infoTable>
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      <None>21505</None>
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    <nameOfIssuer>ISHARES TR</nameOfIssuer>
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      <sshPrnamt>2391</sshPrnamt>
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      <None>2391</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
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      <sshPrnamt>2455</sshPrnamt>
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      <None>2455</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
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      <sshPrnamt>210560</sshPrnamt>
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      <None>210560</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
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      <None>8145</None>
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    <nameOfIssuer>ISHARES TR</nameOfIssuer>
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      <None>598357</None>
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    <nameOfIssuer>ISHARES TR</nameOfIssuer>
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      <None>14617</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
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      <None>567431</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
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    <shrsOrPrnAmt>
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      <None>69847</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
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    <shrsOrPrnAmt>
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      <None>8028</None>
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    <nameOfIssuer>ISHARES TR</nameOfIssuer>
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    <shrsOrPrnAmt>
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      <None>9590</None>
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      <None>3929</None>
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      <None>7210</None>
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      <None>1523</None>
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      <None>1999</None>
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      <None>8690</None>
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      <None>640</None>
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    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>7254</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MERCK &amp; CO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>58933Y105</cusip>
    <value>204</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2666</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>2666</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>META PLATFORMS INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>30303M102</cusip>
    <value>1346</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4001</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>4001</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MICROSOFT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>594918104</cusip>
    <value>6024</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17910</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>17910</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NIKE INC</nameOfIssuer>
    <titleOfClass>CL B</titleOfClass>
    <cusip>654106103</cusip>
    <value>278</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1668</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>1668</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NVIDIA CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>67066G104</cusip>
    <value>737</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2507</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>2507</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NXP SEMICONDUCTORS N V</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>N6596X109</cusip>
    <value>285</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>1250</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ONE GAS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68235P108</cusip>
    <value>1131</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14581</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>14581</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ONEOK INC NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>682680103</cusip>
    <value>2745</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46714</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>46714</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PACER FDS TR</nameOfIssuer>
    <titleOfClass>TRENDP US LAR CP</titleOfClass>
    <cusip>69374H105</cusip>
    <value>304</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7307</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>7307</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PAYCHEX INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>704326107</cusip>
    <value>501</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3674</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>3674</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PAYPAL HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>70450Y103</cusip>
    <value>203</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1079</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>1079</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PEPSICO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>713448108</cusip>
    <value>1010</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5812</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>5812</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PFIZER INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>717081103</cusip>
    <value>356</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6027</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>6027</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PIMCO ETF TR</nameOfIssuer>
    <titleOfClass>ACTIVE BD ETF</titleOfClass>
    <cusip>72201R775</cusip>
    <value>1727</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15784</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>15784</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PIMCO ETF TR</nameOfIssuer>
    <titleOfClass>SHTRM MUN BD ACT</titleOfClass>
    <cusip>72201R874</cusip>
    <value>1993</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38911</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>38911</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PIMCO ETF TR</nameOfIssuer>
    <titleOfClass>INTER MUN BD ACT</titleOfClass>
    <cusip>72201R866</cusip>
    <value>3280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58367</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>58367</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PINNACLE FINL PARTNERS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>72346Q104</cusip>
    <value>257</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2690</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>2690</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROCTER AND GAMBLE CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>742718109</cusip>
    <value>781</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4777</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>4777</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QUALCOMM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>747525103</cusip>
    <value>1659</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9071</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>9071</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RAYTHEON TECHNOLOGIES CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>75513E101</cusip>
    <value>497</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5771</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>5771</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>S&amp;P GLOBAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>78409V104</cusip>
    <value>407</value>
    <shrsOrPrnAmt>
      <sshPrnamt>863</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>863</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCHWAB STRATEGIC TR</nameOfIssuer>
    <titleOfClass>EMRG MKTEQ ETF</titleOfClass>
    <cusip>808524706</cusip>
    <value>331</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11168</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>11168</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCHWAB STRATEGIC TR</nameOfIssuer>
    <titleOfClass>SCHWB FDT EMK LG</titleOfClass>
    <cusip>808524730</cusip>
    <value>1395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45011</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>45011</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCHWAB STRATEGIC TR</nameOfIssuer>
    <titleOfClass>SCHWAB FDT US SC</titleOfClass>
    <cusip>808524763</cusip>
    <value>7326</value>
    <shrsOrPrnAmt>
      <sshPrnamt>131737</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>131737</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCHWAB STRATEGIC TR</nameOfIssuer>
    <titleOfClass>INTRM TRM TRES</titleOfClass>
    <cusip>808524854</cusip>
    <value>1312</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23363</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>23363</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCHWAB STRATEGIC TR</nameOfIssuer>
    <titleOfClass>US AGGREGATE B</titleOfClass>
    <cusip>808524839</cusip>
    <value>231</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4284</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>4284</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCHWAB STRATEGIC TR</nameOfIssuer>
    <titleOfClass>SCHWB FDT INT LG</titleOfClass>
    <cusip>808524755</cusip>
    <value>2101</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64614</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>64614</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCHWAB STRATEGIC TR</nameOfIssuer>
    <titleOfClass>US LCAP GR ETF</titleOfClass>
    <cusip>808524300</cusip>
    <value>586</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3579</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>3579</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCHWAB STRATEGIC TR</nameOfIssuer>
    <titleOfClass>SCHWB FDT INT SC</titleOfClass>
    <cusip>808524748</cusip>
    <value>490</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13113</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>13113</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCHWAB STRATEGIC TR</nameOfIssuer>
    <titleOfClass>US MID-CAP ETF</titleOfClass>
    <cusip>808524508</cusip>
    <value>226</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2812</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>2812</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
    <titleOfClass>COMMUNICATION</titleOfClass>
    <cusip>81369Y852</cusip>
    <value>375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4826</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>4826</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
    <titleOfClass>TECHNOLOGY</titleOfClass>
    <cusip>81369Y803</cusip>
    <value>2947</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16947</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>16947</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
    <titleOfClass>SBI HEALTHCARE</titleOfClass>
    <cusip>81369Y209</cusip>
    <value>4988</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35406</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>35406</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
    <titleOfClass>SBI CONS DISCR</titleOfClass>
    <cusip>81369Y407</cusip>
    <value>1120</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5476</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>5476</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR GOLD TR</nameOfIssuer>
    <titleOfClass>GOLD SHS</titleOfClass>
    <cusip>78463V107</cusip>
    <value>450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2634</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>2634</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR INDEX SHS FDS</nameOfIssuer>
    <titleOfClass>PORTFOLIO DEVLPD</titleOfClass>
    <cusip>78463X889</cusip>
    <value>3084</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84547</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>84547</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR S&amp;P 500 ETF TR</nameOfIssuer>
    <titleOfClass>TR UNIT</titleOfClass>
    <cusip>78462F103</cusip>
    <value>8309</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17495</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>17495</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR SER TR</nameOfIssuer>
    <titleOfClass>PORTFLI TIPS ETF</titleOfClass>
    <cusip>78464A656</cusip>
    <value>2413</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76598</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>76598</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR SER TR</nameOfIssuer>
    <titleOfClass>NUVEEN BLMBRG SH</titleOfClass>
    <cusip>78468R739</cusip>
    <value>4609</value>
    <shrsOrPrnAmt>
      <sshPrnamt>93709</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>93709</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR SER TR</nameOfIssuer>
    <titleOfClass>BLOOMBERG CONV</titleOfClass>
    <cusip>78464A359</cusip>
    <value>385</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4646</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>4646</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR SER TR</nameOfIssuer>
    <titleOfClass>SSGA US SMAL ETF</titleOfClass>
    <cusip>78468R887</cusip>
    <value>654</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5472</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>5472</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR SER TR</nameOfIssuer>
    <titleOfClass>BLOOMBERG INVT</titleOfClass>
    <cusip>78468R200</cusip>
    <value>11936</value>
    <shrsOrPrnAmt>
      <sshPrnamt>390177</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>390177</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR SER TR</nameOfIssuer>
    <titleOfClass>BLOOMBERG SHORT</titleOfClass>
    <cusip>78464A334</cusip>
    <value>735</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24202</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>24202</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STARBUCKS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>855244109</cusip>
    <value>282</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2410</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>2410</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TESLA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>88160R101</cusip>
    <value>233</value>
    <shrsOrPrnAmt>
      <sshPrnamt>221</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>221</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>THERMO FISHER SCIENTIFIC INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>883556102</cusip>
    <value>659</value>
    <shrsOrPrnAmt>
      <sshPrnamt>988</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>988</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNION PAC CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>907818108</cusip>
    <value>881</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3495</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>3495</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNITED PARCEL SERVICE INC</nameOfIssuer>
    <titleOfClass>CL B</titleOfClass>
    <cusip>911312106</cusip>
    <value>605</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2822</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>2822</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNITEDHEALTH GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>91324P102</cusip>
    <value>910</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1811</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>1811</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD BD INDEX FDS</nameOfIssuer>
    <titleOfClass>SHORT TRM BOND</titleOfClass>
    <cusip>921937827</cusip>
    <value>200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2475</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>2475</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD BD INDEX FDS</nameOfIssuer>
    <titleOfClass>TOTAL BND MRKT</titleOfClass>
    <cusip>921937835</cusip>
    <value>37067</value>
    <shrsOrPrnAmt>
      <sshPrnamt>437368</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>437368</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD CHARLOTTE FDS</nameOfIssuer>
    <titleOfClass>TOTAL INT BD ETF</titleOfClass>
    <cusip>92203J407</cusip>
    <value>30220</value>
    <shrsOrPrnAmt>
      <sshPrnamt>547856</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>547856</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD INDEX FDS</nameOfIssuer>
    <titleOfClass>VALUE ETF</titleOfClass>
    <cusip>922908744</cusip>
    <value>3874</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26333</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>26333</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD INDEX FDS</nameOfIssuer>
    <titleOfClass>MID CAP ETF</titleOfClass>
    <cusip>922908629</cusip>
    <value>232</value>
    <shrsOrPrnAmt>
      <sshPrnamt>910</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>910</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD INDEX FDS</nameOfIssuer>
    <titleOfClass>REAL ESTATE ETF</titleOfClass>
    <cusip>922908553</cusip>
    <value>283</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2440</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>2440</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD INDEX FDS</nameOfIssuer>
    <titleOfClass>SMALL CP ETF</titleOfClass>
    <cusip>922908751</cusip>
    <value>429</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1899</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>1899</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD INDEX FDS</nameOfIssuer>
    <titleOfClass>MCAP VL IDXVIP</titleOfClass>
    <cusip>922908512</cusip>
    <value>501</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3331</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>3331</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD INDEX FDS</nameOfIssuer>
    <titleOfClass>MCAP GR IDXVIP</titleOfClass>
    <cusip>922908538</cusip>
    <value>904</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3550</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>3550</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD INDEX FDS</nameOfIssuer>
    <titleOfClass>SM CP VAL ETF</titleOfClass>
    <cusip>922908611</cusip>
    <value>1501</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8395</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>8395</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD INTL EQUITY INDEX F</nameOfIssuer>
    <titleOfClass>FTSE EMR MKT ETF</titleOfClass>
    <cusip>922042858</cusip>
    <value>1154</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23323</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>23323</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD MALVERN FDS</nameOfIssuer>
    <titleOfClass>STRM INFPROIDX</titleOfClass>
    <cusip>922020805</cusip>
    <value>16289</value>
    <shrsOrPrnAmt>
      <sshPrnamt>316911</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>316911</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD MUN BD FDS</nameOfIssuer>
    <titleOfClass>TAX EXEMPT BD</titleOfClass>
    <cusip>922907746</cusip>
    <value>15908</value>
    <shrsOrPrnAmt>
      <sshPrnamt>289709</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>289709</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD SCOTTSDALE FDS</nameOfIssuer>
    <titleOfClass>SHRT TRM CORP BD</titleOfClass>
    <cusip>92206C409</cusip>
    <value>1047</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12887</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>12887</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD SCOTTSDALE FDS</nameOfIssuer>
    <titleOfClass>INTER TERM TREAS</titleOfClass>
    <cusip>92206C706</cusip>
    <value>10892</value>
    <shrsOrPrnAmt>
      <sshPrnamt>163859</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>163859</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD SCOTTSDALE FDS</nameOfIssuer>
    <titleOfClass>INT-TERM CORP</titleOfClass>
    <cusip>92206C870</cusip>
    <value>19898</value>
    <shrsOrPrnAmt>
      <sshPrnamt>214508</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>214508</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD SPECIALIZED FUNDS</nameOfIssuer>
    <titleOfClass>DIV APP ETF</titleOfClass>
    <cusip>921908844</cusip>
    <value>3298</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19205</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>19205</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD TAX-MANAGED INTL FD</nameOfIssuer>
    <titleOfClass>FTSE DEV MKT ETF</titleOfClass>
    <cusip>921943858</cusip>
    <value>732</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14336</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>14336</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD WHITEHALL FDS</nameOfIssuer>
    <titleOfClass>HIGH DIV YLD</titleOfClass>
    <cusip>921946406</cusip>
    <value>524</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4674</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>4674</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD WHITEHALL FDS</nameOfIssuer>
    <titleOfClass>EMERG MKT BD ETF</titleOfClass>
    <cusip>921946885</cusip>
    <value>2272</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29255</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>29255</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VERIZON COMMUNICATIONS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92343V104</cusip>
    <value>762</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14657</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>14657</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VISA INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>92826C839</cusip>
    <value>241</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1112</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>1112</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WALMART INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>931142103</cusip>
    <value>421</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2910</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>2910</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WILLIAMS COS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>969457100</cusip>
    <value>271</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10402</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>10402</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WISDOMTREE TR</nameOfIssuer>
    <titleOfClass>GLB US QTLY DIV</titleOfClass>
    <cusip>97717W844</cusip>
    <value>554</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12722</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>12722</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WISDOMTREE TR</nameOfIssuer>
    <titleOfClass>US QTLY DIV GRT</titleOfClass>
    <cusip>97717X669</cusip>
    <value>256</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3883</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>3883</None>
    </votingAuthority>
  </infoTable>
</informationTable>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
