Dana Investment Advisors is a fee-only advisor in Waukesha, Wisconsin. The firm advises both individual and institutional clients. Its relatively small team manages billions in assets.
Dana Investment Advisors Background
Dana was founded in 1980. It became registered with the SEC in 1985. The firm is principally owned by Mark R. Mirsberger and Jerome (Joe) Veranth. It has been 100% owned by employees since its inception. Ownership is spread throughout senior management and portfolio management staff.
Dana Investment Advisors Client Types and Minimum Account Sizes
Dana has mostly individual clients, the majority of whom are of high net worth. Institutional clients include qualified pension and profit-sharing plans, Taft Hartley plans, unions, financial institutions such as banks and credit unions, insurance companies, public sector entities such as cities and counties, health care facilities, corporations, charitable foundations and other charitable organizations.
The targeted minimum account size at Dana is $1 million.
Services Offered by Dana Investment Advisors
Dana’s services include the following:
- Investment supervisory services
- Wrap fee programs
- Managed accounts
The firm does not provide financial planning services like budgeting, retirement planning or tax planning.
Dana Investment Advisors Investment Philosophy
Equity and fixed-income investments are part of the strategy at Dana. A small percentage of assets are invested in mutual funds, which sets this firm apart from many investment management firms that use mutual funds extensively. The rest is held in cash or cash equivalents.
For equity-based strategies, the firm considers the relative risk versus return of each security selected. When selecting individual securities, advisors use quantitative and fundamental analysis. For fixed-income strategies, client goals and time horizons help advisors identify the best asset allocation. ESG-related strategies use the approaches listed above and also incorporate additional screening tools and metrics.
Fees Under Dana Investment Advisors
Fees for asset management are based on a percentage of assets under management according to the following fee schedule:
|Assets in Equity Accounts||Annual Fee|
|First $10 million||0.75%|
|Next $15 million||0.65%|
|Over $25 million||0.50%|
|Assets in Balanced Accounts||Annual Fee|
|First $10 million||0.65%|
|Next $15 million||0.55%|
|Over $25 million||0.45%|
|Assets in Fixed-Income Accounts||Annual Fee|
|First $10 million||0.35%|
|Next $15 million||0.25%|
|Over $25 million||0.20%|
|Assets in Wealth Management Accounts||Annual Fee|
|First $1 million||1.00%|
|Next $4 million||0.80%|
|Over $5 million||0.65%|
Dana also earns performance fees if a client’s investment performance outpaces a mutually agreed-upon benchmark.
Learn more about advisors' typical costs here.
What to Watch Out For
This is a relatively small firm and is independent of major financial institutions. This has plusses - more attention, no biases to investments or service providers -- but it does mean you may have fewer resources. If you want an advisor with connections to major financial companies, this might not be the choice for you.
According to the firm's latest SEC filing, there are no disclosures on the record for Dana in the past 10 years.
Opening an Account With Dana Investment Advisors
To open an account with Dana, fill out the form on this page or call the office at (262) 782-3631.
All information was accurate as of the writing of this article.
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