John Bunch, who resigned recently as TD Ameritrade's CEO, is joining The Mutual Fund Store as president and CEO.

Bunch was recruited to The Mutual Fund Store by its founder, Adam Bold, who will become chairman.

Bunch's experience in managing a large network of branch offices was an obvious attribute that attracted Bold's attention.

The Mutual Fund Store, which targets middle-class Americans with less than $500,000 who are increasingly ignored by both the RIA and wirehouse communities, reportedly has more than 70 branch offices and more than $6 billion in assets under advisement. Last summer, Warburg Pincus, a private equity firm, purchased a controlling interest in The Mutual Fund Store and indicated they hoped to grow its network.

Earlier this week, TD Ameritrade announced it was replacing Bunch with its institutional CEO, Tom Bradley.