Tag: Mergers
RIA Edge Podcast: The Balefire Wealth Journey with Jason Hester and John Hoffman

RIA Edge Podcast: The Balefire Wealth Journey with Jason Hester and John Hoffman

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Balefire Wealth’s transformation from two thriving RIAs into a unified enterprise business with national ambitions showcases the strength of shared vision and cultural alignment.

In this episode of the RIA Edge Podcast, host David Armstrong talks with Jason Hester and John Hoffman, co-CEOs of Balefire Wealth, a new RIA born earlier this year from the merger of their two established firms. The episode explores how the duo combined their complementary businesses—one focused on ultra-high-net-worth clients and the other serving the mass affluent/HNW market with a strong corporate retirement plan business—to create an integrated wealth management enterprise designed to be greater than the sum of the parts. The discussion reveals their strategic approach to building a comprehensive service platform while maintaining a collaborative leadership structure that prioritizes both client outcomes and advisor growth, and their plans to accelerate the firm’s growth trajectory in 2026.

The three discuss:

  • Why it took two years of discussions before the Hester and Hoffman formally combined their firms, followed by a “32 second” decision to serve as co-CEOs, and how they make the partnership work.
  • How they built an infrastructure that brings advisors into a team-based practice designed to serve the diverse needs of clients, from mass affluent to UHNW, under one roof. This includes their unique approach to financial planning, how they developed their client segmentation strategy and how they envision client services evolving to sustain and manage family wealth.  
  • How they launched the firm with 16 advisor-owners, a pathway to ownership for recruits and—as of yet—no outside capital.
  • Why they feel the future belongs to hybrid advisors who don’t focus only on AUM as a measure of success, and how that approach reshapes client relationships for the better.
  • What their plans are to transition from recruiting like-minded advisors to approaching the M&A market as acquirers in 2026, and their thoughts on potentially working with the “smart money” investors who have entered the RIA space to support that growth.
  • What their approach is for the firm’s corporate retirement plan business, with approximately 130 companies and around 45,000 participants, and how it sees the qualified and unqualified retirement plan market not as investment advisors but as strategic HR partners helping companies meet talent and retention challenges.

Resources:

Connect With David Armstrong:

Connect With Balefire Wealth:

About Jason Hester:

As Managing Partner and Co-CEO of Balefire Wealth, Jason Hester leads the firm’s strategic vision and oversees its multi-division growth across a national footprint. With 25 years of experience in organic growth, strategic leadership, and private wealth frameworks, he guides the development of holistic planning solutions for affluent families and corporate clients. Jason is deeply involved in capital strategy, advisor acquisition, post-merger integration, and platform optimization, while mentoring leadership and cultivating a culture of clarity, accountability, and innovation. He works closely with the Executive and Organic Growth Teams to ensure Balefire continues to set a new standard for enterprise advisory firms.

Jason and his wife, Brandy, have been married for 25 years and have three children—Henley, Hayes, and Bryce—who are each launching careers of their own. They live on a farm in Central Mississippi, where they enjoy gardening, outdoor sports, and traveling together. Jason also spends his free time reading, playing golf, riding motorcycles, working with his hands, and tackling home projects.

About John Hoffman:

With over 25 years in the financial industry, John Hoffman leads with a bold vision of growth and transformation.

For 20 years at Principal Financial, he excelled as an Advisor, Managing Director, and ultimately Regional Managing Director—roles where he shaped strategy, developed high-performing teams, and attracted top talent.

Now, as Managing Partner of Balefire, John is responsible for the firm’s inorganic growth and has built a “one-team” culture in an industry that often operates in silos. He has created team-based values aligned with a bold new vision, ensuring talent thrives in an authentic and collaborative environment. His leadership centers on finding the right team players, creating alignment, and scaling the organization as a unified company.

Beyond Balefire, John is deeply engaged in his community. For over three years, he has served as a Board Member at Bolder Options, a nonprofit that provides wellness-based, activity-centered mentoring for youth. For the past 10 years, he has also chaired the Finance and Investments Committee at Portico Benefit Services, a nonprofit ministry of the ELCA that provides health, retirement, and investment benefits to faith-based organizations and their leaders.

John currently lives in Dallas, Texas.

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Build or Buy – or Both? Wealthstream’s Michael Goodman on building a $1BN RIA

Build or Buy – or Both? Wealthstream’s Michael Goodman on building a $1BN RIA

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The leaders of RIA firms have more options than ever before when evaluating growth opportunities in today’s market. M&A activity continues at an accelerated pace – and technology is allowing advisors to extend their services to an ever-increasing number of investors and clients.  

In this episode of RIA Edge, Mark Bruno, managing director at Informa Wealth Management, speaks with Michael Goodman, founder and president of Wealthstream Advisors, about the keys to building a successful and consistently growing RIA. Wealthstream, which recently crossed the $1BN threshold, has grown through a mix of strategic acquisitions, marketing and business development. 

Specifically, Mark and Michael discuss:

  • How an independent RIA can compete with increasingly influential professional buyers in the M&A market
  • The keys to evaluating the right acquisition opportunities
  • Creating a repeatable, scalable, business development process
  • Acquiring vs. hiring talent to drive growth

Connect With Mark Bruno:

Connect With Michael Goodman:

About Our Guest:

Michael Goodman is the founder and president of Wealthstream Advisors, Inc. As the company’s leader, he spearheads business development, designs and implements the firm’s strategic direction, and builds and manages client relationships. His passion is helping Wealthstream’s clients articulate their financial goals, then helping them find solutions and build plans in order to reach those goals.

After gaining experience in a variety of areas within the financial industry, Michael realized he could best serve clients in the way he wanted by striking out on his own. In 1996, he founded the independent practice that would eventually become Wealthstream Advisors. Michael’s goal then—as it remains today—is to embrace and deliver a “total financial strategy” for clients.

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Wipfli’s Jeff Pierce: Strategies for Driving Quality RIA Growth

Wipfli’s Jeff Pierce: Strategies for Driving Quality RIA Growth

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While every RIA has its own unique approach to adding new clients and talent, the top-performing firms share some common strategic approaches to accelerating and driving organic and inorganic growth. 

In this episode of RIA Edge, Mark Bruno, Managing Director at Informa Wealth Management, speaks with Jeff Pierce, CEO of Wipfli Financial Advisors, about the keys to his firm’s march to $5 billion in assets. Jeff specifically shares his thoughts on how his firm is beginning to use M&A to  acquire both clients and talent that will drive future growth. In addition, Mark and Jeff discuss:

  • Creating consistent, scalable growth
  • The current “talent wars” in the RIA market
  • 2022 M&A opportunities 
  • Opportunities to add planning and advice services for Wiplfi’s accounting clients

Connect With Mark Bruno:

Connect With Jeff Pierce: 

About Our Guest:

When it comes to his client philosophy, Jeff says one key tenet has always been clear: Investing is about more than just money. It’s a guiding principle he reinforces across the business, emphasizing the importance of fostering client well-being beyond their financial lives. For Jeff, that means helping Wipfli Financial’s advisors create alignment between their clients’ resources, values and aspirations.

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After the Close: Building a Truly Integrated RIA Following a Merger or Acquisition

After the Close: Building a Truly Integrated RIA Following a Merger or Acquisition

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Mergers and acquisitions are becoming a more common way for larger RIAs to grow. But successfully managing a merger or acquisition after the deal closes is anything but a straight line — and many RIAs are looking for guidance on how to build a “culture of one.” 

In this episode, Mark Bruno, managing director at Informa Wealth Management, speaks with Greg Friedman, chief executive officer & founder of Private Ocean Wealth Management and Cynthia Greenfield, chief experience officer at Private Ocean Wealth Management about strategies for successfully navigating a company merger or acquisition. Greg and Cynthia discuss their most recent book, Integrating Culture in Successful RIA Mergers and Acquisitions, as a way to share their experience and expertise.

Mark, Cynthia and Greg discuss:

  • The importance of culture in the success of a merger or acquisition  
  • Strategies that have worked for Private Ocean in the past to build a active employee-employer relationship through mergers and acquisitions
  • How coaches and facilitators can help in developing more proactive and rewarding meetings 
  • Strategies to bring employees together after a merger  
  • What Private Ocean is doing today to enhance the culture they want to create in their workplace

Resources:

Connect With Mark Bruno:

Connect With Greg Friedman and Cynthia Greenfield:

About Greg Friedman: Greg Friedman is the CEO of Private Ocean, an innovative West Coast wealth management firm, and the founder of Junxure, a CRM platform that defined technology for financial advisors. In 2007, Charles Schwab honored him with its prestigious IMPACT Award® for “Best in Tech.” In 2008, Financial Planning Magazine included Greg in its elite list of financial “Movers and Shakers”. Greg was also recognized in InvestmentNews’ 2017 Class of Icons and Innovators for his contribution to the advancement of the financial advice profession and for conceiving new ideas and tools that have propelled the industry forward. In 2018, Greg was named CEO of the Year at the WealthManagement.com Industry Awards.

About Cynthia Greenfield: Chief Experience Officer, Leadership Coach and Author. Cynthia develops strategies that deliver on a company’s mission and enhances the employee and client experience through organization, communication and engagement. She combines over a decade of experience in the financial services and technology industries with life coaching techniques to help build people stronger relationships that lead to successful partnerships. She is a community liaison who strives to partner firms with non-profit organizations and external vendors and she spearheads the event strategy for a $2B+ RIA firm. An advocate of healthy company culture, she helps drive cultural integration efforts during times of growth and transition and is responsible for developing and training staff on how to deliver a consistent client experience. In 2021, Cynthia co-authored the book, Integrating Culture in Successful RIA Mergers and Acquisitions, aimed toward business leaders within the financial services industry.

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