More than managing assets: The value of independent trust and wealth management

By A.J. Kaufman, Managing Editor
The Business Journal of Tri-Cities TN/VA
August 2026 Edition

Founded in 1993 as The Trust Company of Virginia, TCV became Virginia’s first independent trust company. While much has changed in the financial services industry over the last three decades, the firm recently told the Business Journal that its founding principles remain remarkably relevant today: independence, objective advice and a commitment to acting solely in the best interests of our clients.

According to George Gilliam, Vice President of TCV Trust & Wealth Management, those principles matter because wealth management “is about far more than selecting investments; it is about helping people navigate some of life’s most significant decisions.”

TCV believes that retirement, the sale of a business, planning for future generations, caring for aging parents or administering a loved one’s estate involves financial considerations yet also deeply personal ones.

“The role of a trusted advisor is not simply to manage assets; it is also to provide clarity, consistency, and confidence during those important moments. As both an attorney and trust officer, I have seen firsthand how thoughtful planning can preserve not only wealth but family harmony,” Gilliam told the Business Journal. “Likewise, I have seen how inadequate planning or failing to revisit an estate plan as circumstances change can create unnecessary complications for those left behind. These experiences have reinforced my belief that good trust and wealth management begins with listening before advising.”

That philosophy aligns closely with TCV’s approach.

As a fiduciary and fee-only wealth management firm, TCV is legally and ethically obligated to place clients’ interests first. Unlike models that rely on commissions or proprietary products, they say their advice is not influenced by sales incentives with recommendations “made with one objective in mind: helping clients achieve their personal and financial goals.”

Investment management is an important part of that responsibility. Through disciplined portfolio management and a research-driven investment process, TCV works to help clients preserve and grow wealth while remaining focused on long-term objectives. Market volatility is inevitable, but thoughtful planning and disciplined decision-making provide a steadier foundation than reacting to every headline.

“In the legal profession, there is an old saying that every document tells a story,” Gilliam explained. “After years practicing law and now serving as a trust officer, I’ve come to believe the same is true of nearly every trust, estate plan, or investment portfolio I encounter.”

Gilliam claims that behind each account is a family, a business, or an individual who has worked hard to build something worth protecting. That perspective is one of the reasons he attributes to being drawn to TCV Trust & Wealth Management, where he now serves as manager of the Knoxville location.

The firm’s trust and estate services represent another defining aspect of their work, per Gilliam and TCV leadership.

“Serving as trustee or co-trustee carries significant legal and fiduciary responsibilities. It requires careful administration, sound judgment and a commitment to carrying out a grantor’s wishes with integrity,” Gilliam added. “Yet the work extends well beyond legal obligations. It often means helping families navigate difficult transitions, communicating with multiple generations, and serving as a steady presence during periods of uncertainty.

Perhaps what distinguishes TCV most, also according to leadership, are not the services they provide but the relationships they foster.

“Trust administration is inherently personal,” Gilliam said. “Over time, many clients become more than account holders; they become families we come to know well. The TCV team celebrates milestones with them, helps them through challenges and works alongside their attorneys, accountants and other trusted advisors to ensure every aspect of their planning works together cohesively. That collaborative approach has helped TCV grow thoughtfully throughout Virginia and into Tennessee while remaining true to the values on which the firm was founded.”

Although technology continues to reshape the financial services industry, the company believes the importance of trust, communication and personal attention has become even more valuable.

More than 30 years after its founding, TCV continues to demonstrate that independence and fiduciary responsibility are not simply marketing terms; they are enduring principles that guide every client relationship. In a complex financial world, they feel clients deserve advisors who take the time to understand not only their balance sheet but also the people and purposes behind it.

“For me, that is what trust and wealth management has always been about,” Gilliam concluded. “It is not merely managing assets. It is serving as a careful steward of the confidence our clients place in us, helping preserve the legacies they have worked a lifetime to build.”

This article was written by A.J. Kaufman, Managing Editor of The Business Journal of Tri-Cities TN/VA and originally appeared in the
August 2026 Edition