[Scott O'Hara] “Even though the white balance and such might differ from clip to clip on the RAW, I shouldn’t mess with it until after the VFX.”
That’s the colorists job. I usually only have individual VFX shots and I have no idea what the surrounding clips look like so it’s not my job to try to balance anything.
[Scott O'Hara] “Then once I have completed all the FX, go to color grading and correct all the footage and VFX together at once.”
Grading is the last part of the production, yes.
[Scott O'Hara] “Or am I just making sure I blend it with the RAW footage as best as possible?”
Yes. You’ll want to keep as much dynamic range/image quality for the colorist to work with.