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SARASOTA — A pair of money management firms in the region, Forza Wealth Management and K-Mack Financial, have merged.
The combine entity will retain the Forza Wealth Management name, according to a statement. Terms of the merger weren’t disclosed.
Both firms are Registered Investment Advisers, and there will be no change to the business model as the combined firm continues to operate as fee-only, with a focus on financial planning, the release states. K-Mack Financial has offices in Lakewood Ranch and Sarasota, and Forza Wealth Management has an office in Sarasota. “We have looked at other potential RIA transactions but, given the synergies between our companies, it made a lot of sense for our firms and clients to come together,” says Forza founder Michael DeMassa in the statement.
“We will not grow just for the sake of growing. We are committed to delivering a high level of service to clients and keeping their interests first in the relationship,” adds Forza Chief Investment Officer Timothy Videnka in the release. “We anticipate a smooth transition given our investment in best-in-class technology."
DeMassa and K-Mack Financial founder Kevin McKenney met more than a decade ago, while working at the same bank and trust company. After a successful 25-year corporate career in banking, McKenney launched K-Mack Financial in 2013. DeMassa says it was McKenney’s move to begin his own firm that inspired him to make the same leap and found Forza in 2015. Today the firm focuses on clients with over $1 million in investable assets.
“Merging with another firm that is a fiduciary 100% of the time was of the utmost importance to me and my clients,” McKenney says in the statement. “Mike and Tim’s investment experience and credentials will only add to our portfolio management going forward in this new world.”
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