Index Fund Advisors (IFA), an Irvine, California-based wealth management firm, has opened a new office in Austin, Texas.

The company also appointed Derick Kann as senior vice president, Wealth Advisor to manage the new office.

Kann, who has over 20 years of experience in financial services, most recently served as senior wealth manager at USAA Wealth Management Services.

At USAA, he was responsible for providing financial planning to HNW clients, with an emphasis on creating and preserving wealth and on family legacy planning.

IFA founder and president Mark Hebner said: "This expansion is an important part of our mission to educate investors about the advantages of investing in portfolios of index funds and the disadvantages of active investing."

"Derick comes to us with extraordinary experience and shares our dedication to wealth services with a fiduciary standard of care, incorporating the academic research of Nobel Laureates Harry Markowitz and Eugene Fama. We are thrilled to have Derick join our team," Hebner added.

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Founded in 1999, Index Fund Advisors had $2.74bn in assets under management as of year end 2015.