DFX Intelligence
RIA Intelligence
Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.
SEC-registered adviser
Duncan Williams Asset Management, LLC
Latest filing Mar 25, 2026
First filing on the tape Feb 16, 2015 · 47 filings
SEC status approved since Mar 9, 2015
RAUM
$2.7B
reported, Item 5.F
Discretionary
83%
of RAUM
Private clients
30%
$800M individuals and HNW
Advisors
15
registered through the firm on IAPD
RAUM per advisor
$180M
derived; firm RAUM over IAPD count
Employees
21
15 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
47 filings and snapshots on the tape
RAUM$2.7B as of Mar 25, 2026
Mar 23, 2016$130M then
HNW client RAUM$482M as of Mar 25, 2026
Mar 29, 2018$128M then
State-registered IARs (5.B.3)15 as of Mar 25, 2026
Mar 23, 20169 then
Employees (5.A)21 as of Mar 25, 2026
Mar 23, 201610 then
Private funds: no history
RAUM +25% over the last fiscal year+62% a year over threeIARs 13 to 15
Practice profile
derived from the filing of Mar 25, 2026; every figure names its basis
Archetypes, each a printed rule
- Dual wealth and asset manager · private-client share 20 to 60 percent and fund or institutional share at least 30 percent
- OCIO / institutional advisory · selection of other advisers (5.G.7) and institutional share at least 50 percent
- Retirement plan adviser · pension consulting activity (Item 5.G.6) and pension plans at least 25 percent of RAUM or at least 25 pension-plan clients
- RAUM per advisor
- $180MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 133derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $1.2MderivedHNW RAUM over HNW clients
- Average account
- $1.2MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 83%derivedof RAUM
- Institutional
- 66%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.4derivedItem 5.A over advisors
- Advisors per office
- 15.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +25%derivedbetween the last two annual amendments
- Advisor growth, one year
- +15%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +16%derived
- Compensation
- percentage of assets, hourly, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, pension consulting, selection of other advisers, educational seminarsreportedItem 5.G
- Custody
- $55.9M, 104 clientsreportedItem 9.A
- Ownership
- no PE, bank or public-company owner found on Schedule Aderived
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- buys or sells securities as principal to or from clients (8.A.2)
- has discretionary authority over which securities are bought or sold (8.C.1)
- receives research or other products from a broker-dealer, soft dollars (8.E)
- has custody of client cash or bank accounts (9.A.1.a)
- marketing includes testimonials (5.L.1.c)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Pension and profit-sharing plans$1.6B61%
- High-net-worth individuals$482M18%
- Individuals$318M12%
- Charitable organizations$139M5.2%
- Corporations and businesses$109M4.1%
- State and municipal entities$11.7M0.4%
- Individual clients
- 1,604reported
- HNW clients
- 397reported
- Pension plan clients
- 140reported
- Charitable clients
- 63reported
- Accounts
- 2,238reported
- Financial planning clients
- 101-250reported
- Wrap fee programs
- noreported
- Custody of client assets
- $55.9M for 104 clientsreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.3 fund_share=0.0 institutional_share=0.66 related_bd=false related_bank=false bd_reps=3.0derived
Advisors registered through the firm
15 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Kyle Hammett GowenCertified Financial Planner, Chartered Financial Analyst | Memphis, Tn | Mar 20, 2015 | 13 y | 2 |
| Peyton Chandler WadeCertified Financial Planner | Memphis, Tn | Jan 6, 2020 | 10 y | 0 |
| William Allan Hensley | Memphis, Tn | Oct 16, 2020 | 18 y | 1 |
| Robert Hudson Atkins | Memphis, Tn | Mar 2, 2021 | 14 y | 1 |
| Edwin Lyles Bennett | Memphis, Tn | Mar 13, 2023 | 11 y | 0 |
| Jackson Wyatt Greer | Memphis, Tn | Dec 4, 2023 | 10 y | 0 |
| James Allen ChaneyCertified Financial Planner | Memphis, Tn | Apr 12, 2024 | 12 y | 0 |
| Alexander Harrison Snyder | Memphis, Tn | Jun 14, 2024 | 13 y | 2 |
| James Walker Hays | Memphis, Tn | Jun 14, 2024 | 33 y | 2 |
| Amy Koch | Memphis, Tn | Jun 14, 2024 | 16 y | 2 |
| Jacob Graham EasonCertified Financial Planner, Chartered Financial Analyst | Memphis, Tn | Nov 26, 2024 | 13 y | 1 |
| Savannah Claire Stovall | Memphis, Tn | Dec 5, 2024 | 12 y | 1 |
| Wesley David Mims | Memphis, Tn | Jun 5, 2025 | 12 y | 0 |
| David Nicholas ScullyCertified Financial Planner, Chartered Financial Analyst | Memphis, Tn | Jan 2, 2026 | 19 y | 2 |
| Colby H Ring | Memphis, Tn | Jun 11, 2026 | 10 y | 0 |
Advisor movement
0 left, 0 joined in 12 months
net 0 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount1 left over 36 months
Left, latest
- Patrick Shane O'Connor to Hhm Wealth Advisors, LLCJul 2, 2024 · RIA to RIA
- Benjamin John Gleneck to First Horizon Advisors, IncApr 13, 2023 · RIA to RIA
- John Carter Giovannetti to Red Door Wealth Management, LLCApr 18, 2018 · RIA to RIA
Joined, latest
- Savannah Claire Stovall from Csenge Advisory Group, LLCDec 5, 2024 · RIA to RIA
- Jacob Graham Eason from Csenge Advisory Group, LLCNov 26, 2024 · RIA to RIA
- James Walker Hays from B. Riley Wealth Advisors, Inc.Jun 14, 2024 · Affiliated broker-dealer or bank to independent RIA
- Alexander Harrison Snyder from B. Riley Wealth Advisors, Inc.Jun 14, 2024 · Affiliated broker-dealer or bank to independent RIA
- Amy Koch from B. Riley Wealth Advisors, Inc.Jun 14, 2024 · Affiliated broker-dealer or bank to independent RIA
- William Allan Hensley from LPL Financial LLCOct 16, 2020 · Affiliated broker-dealer or bank to independent RIA
Teams: two or more advisors moving together within fourteen days, from one state
- 2 joined from Csenge Advisory Group, LLCOct 29, 2024 · Memphis, Tn
- 3 joined from B. Riley Wealth Advisors, Inc.Jun 20, 2024 · Memphis, Tn
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Nicholas David Scully · Manager; Presidentcontrolsince 02/2017 · owns less than 5%
- Franklin Duncan Williams · Member; Chairman Of Board Of Managerscontrolsince 04/2015 · owns 75% or more
- Thompson Patrick Burnett · Member Of Board Of Managerssince 04/2015 · owns less than 5%
- Ann Sonia Goforth · Chief Compliance Officersince 08/2023 · owns less than 5%
- Hammett Kyle Gowen · Chief Investment Officersince 01/2022 · owns less than 5%
- Farley Franklin Reid · Member Of Board Of Managerssince 07/2017 · owns less than 5%
Related persons
Schedule D 7.A
- Duncan-Williams, Inc.broker-dealernRAUM $30.0M
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Memphis, Tn · principal | 15 | 2 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
4 against comparable advisers; where to look, not conclusions
- high institutional concentrationStatic outlier · filing Mar 25, 2026institutional share of RAUM of 66% against a peer median of 3% (1362 comparable advisers, 98.0th percentile, 15.8 robust deviations)peers: independent wealth managers, $1B to $5B (1,362) · 98% percentile
- affiliate changedChange between filings · filing Mar 25, 2026broker-dealer affiliate (Item 7.A.1): yes on the filing of 2025-03-28, no on the filing of 2026-03-25peers: independent wealth managers, $1B to $5B (1,362)
- business activity changedChange between filings · filing Mar 25, 2026wrap fee program participation (Item 5.I): yes on the filing of 2025-03-28, no on the filing of 2026-03-25peers: independent wealth managers, $1B to $5B (1,362)
- compensation changedChange between filings · filing Mar 25, 2026hourly charges (Item 5.E.2): no on the filing of 2025-03-28, yes on the filing of 2026-03-25peers: independent wealth managers, $1B to $5B (1,362)
What changed
consecutive filings, newest first
- Accounts · 1,962 to 2,238Mar 28, 2025 to Mar 25, 2026
- Advisory employees · 5 to 15Mar 28, 2025 to Mar 25, 2026
- Advisory activities · 5 to 6Mar 28, 2025 to Mar 25, 2026
- BD registered reps · 5 to 3Mar 28, 2025 to Mar 25, 2026
- Charity clients · 69 to 63Mar 28, 2025 to Mar 25, 2026
- Corporate clients · 27 to 32Mar 28, 2025 to Mar 25, 2026
- HNW clients · 337 to 397Mar 28, 2025 to Mar 25, 2026
- Individual clients · 1,390 to 1,604Mar 28, 2025 to Mar 25, 2026
- Pension plan clients · 136 to 140Mar 28, 2025 to Mar 25, 2026
- Assets in custody · $204M to $55.9MMar 28, 2025 to Mar 25, 2026
- Employees · 24 to 21Mar 28, 2025 to Mar 25, 2026
- State-registered IARs · 13 to 15Mar 28, 2025 to Mar 25, 2026
- Discretionary RAUM · $2.0B to $2.2BMar 28, 2025 to Mar 25, 2026
- HNW RAUM · $355M to $482MMar 28, 2025 to Mar 25, 2026
- Individual RAUM · $228M to $318MMar 28, 2025 to Mar 25, 2026
- Non-discretionary RAUM · $134M to $449MMar 28, 2025 to Mar 25, 2026
- Pension RAUM · $1.4B to $1.6BMar 28, 2025 to Mar 25, 2026
- RAUM · $2.2B to $2.7BMar 28, 2025 to Mar 25, 2026
- Related broker-dealer · true to falseMar 28, 2025 to Mar 25, 2026
- Wrap assets (manager) · 0.0 to unsetMar 28, 2025 to Mar 25, 2026
- Wrap assets (sponsor) · 0.0 to unsetMar 28, 2025 to Mar 25, 2026
- Accounts · 1,286 to 1,962Apr 11, 2024 to Mar 28, 2025
- Advisory employees · 8 to 5Apr 11, 2024 to Mar 28, 2025
- BD registered reps · 0 to 5Apr 11, 2024 to Mar 28, 2025
- Charity clients · 43 to 69Apr 11, 2024 to Mar 28, 2025
- Corporate clients · 9 to 27Apr 11, 2024 to Mar 28, 2025
- HNW clients · 60 to 337Apr 11, 2024 to Mar 28, 2025
- Individual clients · 478 to 1,390Apr 11, 2024 to Mar 28, 2025
- Pension plan clients · 90 to 136Apr 11, 2024 to Mar 28, 2025
- Assets in custody · $68,453 to $204MApr 11, 2024 to Mar 28, 2025
- Employees · 15 to 24Apr 11, 2024 to Mar 28, 2025
- Financial planning clients · 0 to 101-250Apr 11, 2024 to Mar 28, 2025
- State-registered IARs · 8 to 13Apr 11, 2024 to Mar 28, 2025
- Discretionary RAUM · $797M to $2.0BApr 11, 2024 to Mar 28, 2025
- HNW RAUM · $172M to $355MApr 11, 2024 to Mar 28, 2025
- Individual RAUM · $102M to $228MApr 11, 2024 to Mar 28, 2025
- Non-discretionary RAUM · $225M to $134MApr 11, 2024 to Mar 28, 2025
- Pension RAUM · $611M to $1.4BApr 11, 2024 to Mar 28, 2025
- RAUM · $1.0B to $2.2BApr 11, 2024 to Mar 28, 2025
- Accounts · 1,104 to 1,286Aug 23, 2023 to Mar 25, 2024
Signals
9 dated events
- Duncan Williams Asset Management, Llc reported RAUM $2.2B, up 112% from $1.0B (2024-04-11 to 2025-03-28)Mar 28, 2025 · RAUM change · derived
- 2 advisors left Csenge Advisory Group, LLC (Memphis, TN) for Duncan Williams Asset Management, LLC on the same dayOct 29, 2024 · Team lift-out · derived
- Patrick Shane O'Connor left Duncan Williams Asset Management, Llc for Hhm Wealth Advisors, Llc (registered 2024-07-09)Jul 2, 2024 · Advisor changed firm · fact
- 3 advisors left B. Riley Wealth Advisors, Inc. (Memphis, TN) for Duncan Williams Asset Management, LLC on the same dayJun 20, 2024 · Team lift-out · derived
- Duncan Williams Asset Management, Llc reported RAUM $1.0B, up 62% from $632.0M (2023-08-23 to 2024-03-25)Mar 25, 2024 · RAUM change · derived
- Diane Heather Smith (Chief Compliance Officer) no longer on Schedule A of Duncan Williams Asset Management, Llc (listed 2023-03-31, absent 2023-08-23)Aug 23, 2023 · Control person left · inference
- Benjamin John Gleneck left Duncan Williams Asset Management, Llc for First Horizon Advisors, Inc (registered 2023-05-04)Apr 13, 2023 · Advisor changed firm · fact
- Duncan Williams Asset Management, Llc reported RAUM $409.7M, up 200% from $136.4M (2021-03-01 to 2021-03-24)Mar 24, 2021 · RAUM change · derived
- Duncan Williams Asset Management, Llc filed its initial SEC registration (Form ADV)Feb 16, 2015 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
How to reach
public business contact points only, each with its source
- Business email
- info@dwassetmgmt.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 901-435-4250reportedpublished by the firm, firm site, Sep 15, 2026
- Firm profile
- LINKEDIN.COM/COMPANY/DUNCAN-WILLIAMS-ASSET-MANAGEMENTreportedpublic record, Form ADV, Sep 18, 2026
- Website
- DWASSETMGMT.COMreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- (901) 435-4250reportedpublic record, Form ADV, Mar 25, 2026
- Contact form
- dwassetmgmt.com/contact-usreportedpublished by the firm, firm site, Sep 15, 2026
- Team page
- dwassetmgmt.com/teamreportedpublished by the firm, firm site, Sep 15, 2026
Provenance
- Form ADV
- SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
- Advisors
- IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
- Class
- Wealth manager with institutional or fund businessderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $180Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026