Preserving & Propelling Wealth for Generations

This article was originally featured in Businesswire.

‍The Utah-based private holding company has acquired a 20 percent stake in the ultra-high net worth wealth management firm, enabling Balentine to secure its independence while positioning itself for future growth.

ATLANTA--(BUSINESS WIRE)--Balentine LLC, the Atlanta-based, privately held wealth management firm with offices in Raleigh, NC, has received a 20 percent investment from holding company FJ Management (FJM). FJM will hold one of five seats on the company’s board, and the investment will allow for long-term, patient capital to bolster the firm’s succession planning and growth for years to come, according to Balentine. Balentine will continue to operate as an independent entity under its current leadership team.

“This partnership is different in a couple of ways that are important to us in our quest to be a ‘forever firm’,” said Adrian Cronje, CEO and a founder of Balentine. “Balentine and FJM are aligned in terms of vision and values, and unlike a typical private equity investor, FJM is committed to a longer path and a more intentional pace of growth for our firm as we continue to serve entrepreneurs, business owners and ultra-high net worth families who seek to secure their wealth and legacy across generations.”

FJ Management Inc. is a private holding company that manages a diverse portfolio of petroleum, healthcare, and hospitality-related assets. FJM has its roots in entrepreneurism, as the company began in the 1960s as a regional chain of travel centers. Flying J, named after founder O. Jay Call, Crystal Maggelet’s father, was the first in what has become a portfolio that is distinguished by brands with long-term growth and profitability potential. Under Crystal’s leadership, Flying J merged with Pilot Travel Centers to become Pilot Flying J, which later was acquired by Warren Buffett’s Berkshire Hathaway.

“We think of ourselves as flexible capital providers, and we make both strategic and financial investments consistent with our mission of “Building Value to Last,” said Crystal Maggelet, CEO of FJ Management Inc. “After discussion with a number of firms, we’ve found in Balentine a partner that not only shares our values but also aligns with the vision for our family – one that is dedicated to growing and securing our financial and philanthropic legacy for generations to come.”

About Balentine

Balentine is a boutique wealth management firm serving ultra-high net worth entrepreneurs and their families that aims to help ensure the wealth they’ve created will endure for generations. With investment management, financial planning, business advisory, and legacy planning services, Balentine creates custom, holistic solutions for wealth creators at every stage of their journey. Today, Balentine offers its wealth of perspective to over 300 clients nationwide, advising on approximately $8 billion of assets.

In almost four decades of serving clients, Balentine is consistently recognized as a top financial planning and advisory firm by Forbes, Barron's, and The Financial Times. An independent, employee-owned firm with offices in Atlanta and Raleigh, N.C., Balentine is also a perennial winner of the Pensions & Investments Best Places to Work in Money Management Award.

Balentine is an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training. More information about Balentine's investment advisory services can be found in its Form ADV Part 2, which is available upon request.

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