The merger of two wealth management businesses in the Kansas City area has created one of the larger advisory firms in the Midwest.

Barber Financial Group and Kasper Steck Wealth Management have combined to form a firm with $700 million in assets under management. Financial Advisor magazine's 2008 Midwest survey shows about 50 firms with $700 million or more in assets.

Barber Financial Group, in Lenexa, Kan., has 28 employees and will retain its name. Kasper Steck, based in Lee's Summit, Mo., with six employees, will be renamed Barber Financial Group Lee's Summit. No employees will be laid off and no cash was exchanged in the merger.

Dean Barber founded Barber Financial Group and will remain its CEO and president. Bud Kasper, who founded Kasper Steck Wealth Management, will be president of Barber Financial Group Lee's Summit.

Barber and Kasper co-host a nationally syndicated radio show, "The Wealth Management Show," that offers insight on retirement planning and investment strategies.  "The Wealth Management Show" airs Saturday's from 3 p.m. to 5 p.m. on NewsRadio 980 KMBZ.