TBA Trust Division celebrating 100th anniversary
Wealth Management and Trust, a division of the Texas Bankers Association, is celebrating its 100th anniversary this year. WMT is the oldest autonomous trust organization in the U.S. serving corporate trustees.
The “Trust Company Section” of the Texas Bankers Association was created May 12, 1921, at TBA’s 37th Annual Meeting when a resolution was prepared and adopted by the membership. One year later, 12 members attended the First Annual Meeting in Fort Worth.
Over the years, new bylaws have been adopted, providing for standing committees and enlargement of the Administrative Council. In 1970, the bylaws went through another complete revision, and the Trust Company Section became the Trust Division.
As a one-of-its-kind state organization, Trust’s mission is to promote the success of the industry and corporate fiduciaries throughout Texas. For members, Trust is the primary resource for information, a voice for the interests of the industry and a facilitator for contact with other corporate trustees and service providers.
To fulfill its mission, Trust utilizes a community of industry professionals to provide tailored education, information and advocacy services that meet the unique needs of its members.
Trust provides valuable services to Texas’ wealth management and trust industry, which is a dynamic component of the financial services sector. The industry is comprised of professional fiduciaries — institutions and individuals dedicated to providing clients with exceptional experiences in a range of wealth management products and services designed to build, preserve and transfer wealth.
These services include trusts, investment management, income and principal distribution, custodial services, planning in business, retirement, charitable and estate planning affairs, tax decisions and agent services.
By providing trust schools, seminars, workshops and publications, the Trust Division helps build the professional foundation corporate fiduciaries need to stay informed about issues that are critical to the industry.
“I’m thrilled to be serving as chairman of the Trust Administrative Council as we celebrate this important milestone,” said Joby Mills of Happy State Bank and Trust Company in Amarillo. “We have a unique opportunity in 2021 to not only continue the work of those who set an incredible foundation for Trust, but to assess the opportunities of new technologies, ways of outreach and paths for education provided by today’s environment. I look forward to working with you all as we celebrate the long, rich history of an organization unlike any other in the country.”