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: Listen to the RIA Edge Podcast on WealthManagement.com Listen and Subscribe to the RIA Edge Podcast on Apple Podcasts Listen and Subscribe to the RIA Edge Podcast on Spotify Connect With David Armstrong: WealthManagement.com LinkedIn: WealthManagement.com LinkedIn: David Armstrong Twitter: David Armstrong LinkedIn: Informa Connect With Balefire Wealth: Website: Balefire Wealth LinkedIn: Balefire Wealth LinkedIn: Jason Hester 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.
