# Duncan Williams Asset Management

Duncan Williams Asset Management is an Asset Manager based in Memphis, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Memphis, United States
- **Region:** North America
- **Address:** Memphis, TN, United States
- **Founded:** 1969
- **Assets under management:** Undisclosed
- **Website:** duncanwilliams.com
- **LinkedIn:** https://www.linkedin.com/company/duncan-williams-asset-management

## Regulatory record

- **CRD number:** 174809
- **SEC file number:** 801-81015
- **Registration status:** Registered
- **Reports private funds:** No
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/174809

## About

DUNCAN WILLIAMS ASSET MANAGEMENT, LLC is an SEC-registered investment adviser in MEMPHIS, TN, registered since 2015. The firm manages $2.7 billion in assets, $2.2 billion on a discretionary basis. It has 21 employees and 15 investment advisers.

## Sectors

- Fixed Income
- Municipal Bonds

## People

- Duncan F. Williams — Founder

## Questions

### What fixed-income sectors does the firm specialize in?

The firm's core competency is municipal bonds, including tax-exempt and taxable municipal securities. It also trades and underwrites US government obligations, agency debt, and mortgage-backed securities. Geographic specialisation overlaps with the Southern US origination market while maintaining national institutional distribution capabilities.

### How does the firm source municipal-bond inventory?

Duncan-Williams participates as an underwriter in negotiated and competitive municipal-bond sales. Through its public-finance relationships — built over decades of Southern-state deal flow — it originates new-issue supply and maintains secondary-market trading inventory for institutional clients.

### Is the firm still controlled by the founding Williams family?

Duncan F. Williams founded the firm in 1969 and it has remained privately held for over 55 years. Current ownership and succession structure are not publicly disclosed. No acquisition by a bank holding company or public listing has occurred, which distinguishes it from many municipal-bond dealers consolidated in the 1990s and 2000s.

### Does Duncan Williams Asset Management participate in public-finance advisory or only underwriting?

The firm operates primarily on the sell-side: underwriting, trading, and sales. It is not commonly known as a municipal advisory practice (the buy-side advising role governed under MSRB Rule G-42). Its public-finance bankers pitch underwriting mandates rather than acting as fiduciary municipal advisors to issuers.

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Last updated: 2026-06-03T20:00:00.000Z

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