VisionPoint Advisory Group, which broke away from LPL Financial in 2021, and Navitas Wealth Advisors merged to form Balefire, a Dallas-based RIA whose combined assets under management (AUM) surpassed $3.7 billion as of Jan. 1, the new firm said Tuesday.
Balefire represents a “merger of two equals” that was “designed to meet the growing demand for integrated, high-capability financial and business advisory solutions for affluent individuals, families, and businesses,” the new firm said in a news release.
Balefire has partners and employees in 19 states and clients in 39 states, and, in addition to Texas, “maintains a significant presence” in Mississippi, Minnesota, Alabama, Arizona, Iowa, North Carolina, Georgia, Florida and South Dakota, it said.
The new entity joins together more than 60 advisors and other professionals with complementary skillsets, offering wealth management, tax planning and corporate solutions, Balefire said.
“Operating as a unified platform, Balefire is positioned to provide deeper insight, greater strategic continuity, and more scalable solutions,” it said.
Balefire’s goals include expanding annual revenue to $215 million, growing AUM to $42 billion, and scaling the Balefire team to 300 advisors and other professionals, the firm said, adding that it plans to focus on M&A, organic growth and client experience to grow its AUM tenfold in the next decade.
Leading Balefire are Co-Managing Partners Jason Hester, the former CEO of Navitas, and John Hoffman, the former CEO of VisionPoint. Balefire’s advisors employ a collaborative framework.
“This combination is not about getting bigger – it’s about getting better.”
Jason Hester, Managing Partner, Balefire
“This combination is not about getting bigger – it’s about getting better,” said Hester. “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.”
“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,” Hoffman said.
“Throughout history, a balefire has been a powerful, towering flame that serves as a beacon, bringing people together in seasons of transition, fostering a sense of community and guidance,” according to Stephanie Elton, Chief of Staff at Balefire.
“Balefire’s logo and name together signal a firm that is not only sophisticated and exclusive, but also deeply committed to illuminating the way for those who have achieved exceptional success,” Elton said.
Advisor Growth Strategies (AGS) served as Balefire’s M&A advisor.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
