A new name entered the registered investment advisor ecosystem this week as two legacy teams merged, managing a combined $3.7 billion in client assets as of January 1, 2025.
Launching with a vision to serve affluent individuals and clients with “high capability financial and business advisory solutions,” Balefire combines VisionPoint Advisory Group and Navitas Wealth Advisors with a team of 60 professionals.
The new RIA entity is a merger of equals and is just the start with a stated intention to expand though M&A along with “robust organic growth” with a plan to more than 10x the AUM over the next decade.
Balefire’s co-managing partners are former Navitas CEO Jason Hester and former VisionPoint CEO John Hoffman.
But while the AUM and strategic business plan are ambitious, Hester says there is something else that led to the merger.
“This combination is not about getting bigger – it’s about getting better,” he said. “While our strategic plan does include revenue and profitability benchmarks, it also focuses on stewardship and the impact we can make together. We’ve built something that has real staying power for our clients and our team. Clients will see deeper bench strength, broader services, and the same personal connection they’re accustomed to. It’s not a shift in identity – it’s an expansion of what’s possible.”
Balefire’s legacy firms mean that the new brand already has partners and employees in 19 states and clients across 39 including a significant presence in Texas, Mississippi, Minnesota, Alabama, Arizona, Iowa, North Carolina, Georgia, Florida, and South Dakota.
“With 66% of advisors eyeing a change due to limited growth, support, or a desire to build a better business model. Balefire is redefining partnership in wealth management,” added Hoffman. “Our recent merger strengthened our frameworks, that give advisors more clarity, control, and alignment to seize better opportunities and navigate complexity – all on one team. Balefire is built for that.”
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
