What is Balefire, the new $3.7B RIA firm that wants to 10x AUM in a decade?

What is Balefire, the new $3.7B RIA firm that wants to 10x AUM in a decade?
Two legacy teams unite under a new banner with clients in 39 states
MAY 06, 2025

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.”

Latest News

Can ETF issuers mimic Buffett's investing magic?
Can ETF issuers mimic Buffett's investing magic?

As Berkshire Hathaway remains a top-performing financial stock, ETFs that offer a similar value style could appeal to investors, according to CFRA.

Trump administration's downsizing push hits thousands of Wall Street cops
Trump administration's downsizing push hits thousands of Wall Street cops

Buyouts, layoffs, early retirements, and hiring freezes have added up to the steepest cuts in decades at the SEC and other federal agencies.

How is AI rewiring financial planning? Global survey sheds light
How is AI rewiring financial planning? Global survey sheds light

More than three-quarters of planners believe AI will enhance client service, but call for more training and guidance.

Advisor moves: LPL welcomes women-led B. Riley team as RayJay reels in father-son pair from Wells Fargo
Advisor moves: LPL welcomes women-led B. Riley team as RayJay reels in father-son pair from Wells Fargo

Elsewhere, Wells Fargo also recently announced several new hires from Cetera, Merrill Lynch, and JPMorgan.

Changes at Cetera: John Lefferts to lead indie advisor community as Clint Brookshire heads up Avantax
Changes at Cetera: John Lefferts to lead indie advisor community as Clint Brookshire heads up Avantax

The leadership changes are happening just as the firm forges a strategic partnership with AI notetaking leader Jump.

SPONSORED The evolution of private credit

From direct lending to asset-based finance to commercial real estate debt.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.