The ETF Store, a Kansas City based fee-only independent investment adviser, has appointed Thomas Telford as its chief investment officer, effective immediately.

Telford was previously a portfolio manager with American Century Investments for 12 years.

He served as manager and co-manager on a number of equity mutual funds during his time there, including the New Opportunities and Technology Funds.

Most recently Telford was the lead manager of the firm’s flagship Ultra Fund, for which he managed approximately USD10bn in assets.

Joe Massman, founder of The ETF Store, says: “Tom is an outstanding and seasoned asset manager. Tom joining the firm is a validation of our strategy and reflects the changes occurring within the investment advisory business. Exchange-traded funds have been called the next generation mutual fund and they have benefited investors tremendously. Now, with Tom’s experience having directly managed tens of billions of dollars, we can fully leverage the power of ETFs for our clients.”

Telford adds: “I’m excited to join an innovative investment advisory firm like The ETF Store. Exchange-traded funds have changed the way investors invest, and with The ETF Store I’ll have the opportunity to bring sophisticated investment strategies to retail investors.”

Telford and The ETF Store have formed Impetus Capital Management, an asset management firm that will provide ETF asset management solutions to institutional, high net-worth and third party investment advisers.