Endowment honors visionary entrepreneur Wayne Faison
By Megan Nash
For many college students, the obstacles of pursuing a degree while working would have been too much.
But Wayne Faison (B.S. ’87) did it. He went on to build a successful insurance business, mentor others and make a lasting impact on his community. Now, an endowment fund in his name is helping future business leaders with the same grit and determination.
“Wayne was competitive and driven,” said his brother, Scott Faison. “Failure wasn’t an option for him. He was always looking for the next big thing.”
A Richmond native, Wayne attended Midlothian High School before enrolling in the Virginia Commonwealth University School of Business. His entrepreneurial spirit showed early on. As a teenager, Wayne managed a newspaper route, often rising before dawn to deliver papers across the city. While attending VCU, he balanced his studies with his role as a district manager for the Richmond Times-Dispatch.
“He wasn’t someone who waited for things to happen—he made them happen,” said his sister, Tamara Weis. “Wayne even helped me secure my first paid internship in Richmond, which led to my first professional job. He was always building relationships and helping others succeed.”
After graduating, Wayne launched Faison Group Benefits, a health and wellness insurance business that quickly grew under his leadership. “He was a visionary,” said Scott Eastman, his longtime friend and business partner. “Wayne had this innate ability to see opportunities where others couldn’t, and he went after them relentlessly. He taught me so much, and he was always thinking ahead.”
Wayne’s dedication to his business was matched by his commitment to the people who worked for him. He treated his employees like family, often going out of his way to help them. “If ever someone needed something, Wayne was there,” Scott Faison shared. “He was generous to a fault, always making sure his employees were taken care of. And that was just who he was—always thinking of others.”
That generosity extended to his community. After Wayne passed away in 2021, his family established the Wayne Faison Endowed Entrepreneurship Fund to support aspiring business students at the School of Business. The fund is a way to continue Wayne’s legacy by helping students who show the same drive and determination that defined his life.
“My dad loved VCU,” said Bryce Faison, Wayne’s son. “He was very proud of being an alum and carried that pride with him throughout his life. This fund is a way to give back to the school that gave him so much.”
The endowment supports undergraduate students at VCU’s School of Business, helping them cover the costs of tuition, books and other expenses. It’s designed to assist students who, like Wayne, may not have access to significant financial support but have the ambition and work ethic to succeed.
“Wayne was trusted within the industry and made working fun,” said Eastman. “His advice to future students would be to work hard to create something of your own and surround yourself with those you trust, care about and enjoy working with.”
“We want to help students who have that same entrepreneurial spirit Wayne had,” said Scott Faison. “He built something from nothing, and we hope this fund will help others do the same.”
Wayne’s family, including his children Bryce and Leah, continue to honor his memory through the fund. “I want this fund to encourage the person who receives it to carry on my dad’s generosity,” said Leah Faison, Wayne’s daughter. “He treated everyone with kindness, and I believe this endowment will help them to continue that legacy in their own way.”
Wayne’s sister Tamara added, “We hope this fund will inspire others to build something of their own that positively impacts society, just like Wayne did. He was a leader, a connector and above all, someone who believed in the power of community.”
To learn more about Wayne Faison’s incredible life, read his full obituary on the Richmond Times-Dispatch website. If you feel inspired to contribute to his legacy, donations to the Wayne Faison Endowed Entrepreneurship Fund will help aspiring business students at VCU pursue their own dreams, just as Wayne did.
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