diff --git a/Cargo.toml b/Cargo.toml
index 8297c27..547cf39 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -60,3 +60,4 @@ csv = "1.2"
 url = "2"
 num-traits = "0.2"
 tonic = { version = "0.10", features = ["tls-webpki-roots", "tls"] }
+toml = "0.7"
diff --git a/src/opt/serve.rs b/src/opt/serve.rs
index 9deda40..7c73bfc 100644
--- a/src/opt/serve.rs
+++ b/src/opt/serve.rs
@@ -99,11 +99,11 @@ impl Serve {
         std::fs::create_dir_all(&data_dir).context("can create data dir")?;
 
         let view_file = data_dir.clone().join("pcli-view.sqlite");
-        let custody_file = data_dir.clone().join("custody.json");
+        let pcli_config_file = data_dir.clone().join("config.toml");
 
         // Build a custody service...
-        let wallet =
-            Wallet::load(custody_file).context("Failed to load wallet from local custody file")?;
+        let wallet = Wallet::load(pcli_config_file)
+            .context("Failed to load wallet from local custody file")?;
         let soft_kms = SoftKms::new(wallet.spend_key.clone().into());
         let custody =
             CustodyProtocolServiceClient::new(CustodyProtocolServiceServer::new(soft_kms));
diff --git a/src/wallet.rs b/src/wallet.rs
index 1f6d722..990dad4 100644
--- a/src/wallet.rs
+++ b/src/wallet.rs
@@ -2,6 +2,7 @@ use anyhow::Context;
 use penumbra_keys::keys::SpendKey;
 use serde::{Deserialize, Serialize};
 use std::str::FromStr;
+use toml;
 
 /// A wallet file storing a single spend authority.
 #[derive(Debug, Clone, Serialize, Deserialize)]
@@ -12,13 +13,16 @@ pub struct Wallet {
 impl Wallet {
     /// Read the wallet data from the provided path.
     pub fn load(path: impl AsRef<std::path::Path>) -> anyhow::Result<Self> {
-        let custody_json: serde_json::Value =
-            serde_json::from_slice(std::fs::read(path)?.as_slice())?;
-        let sk_str = match custody_json["spend_key"].as_str() {
+        let config_contents = std::fs::read_to_string(&path).context(
+            "pcli config file not found. hint: run 'pcli init soft-kms import-phrase' to import key material",
+        )?;
+        let config_toml: toml::Table = toml::from_str(&config_contents)?;
+
+        let sk_str = match config_toml["custody"]["spend_key"].as_str() {
             Some(s) => s,
             None => {
                 return Err(anyhow::anyhow!(
-                    "'spend_key' field not found in custody JSON file"
+                    "'spend_key' field not found in custody TOML file"
                 ))
             }
         };