Combine beef stew meat and flour in a resealable plastic bag; seal bag and shake to coat beef.

Melt butter with olive oil in a large pot over high heat; add beef and season with seasoned salt. Cook and stir beef until seared on all sides 5 to 7 minutes. Stir onion into the beef; cook and stir until the onion is browned, about 5 minutes more.

Pour enough of the beef broth into the pot to cover the bottom; bring to a boil while scraping the browned bits of food off of the bottom of the pan with a wooden spoon. Add remainder of the beef broth; bring to a simmer before adding carrots, potatoes, celery, balsamic vinegar, Worcestershire sauce, parsley, basil, paprika, and garlic powder.

Bring liquid to a boil, reduce heat to low, and cook stew at a simmer until the meat and vegetables are very tender, 3 to 4 hours.