Dana Investment Advisors is a fee-only advisor in Waukesha, Wisconsin. The firm advises both individual and institutional clients. There are 18 advisors on staff managing more than $5.1 billion 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. Misberger and Jerome (Joe) Veranth. It has been 100% owned by employees since its inception. Ownership is spread throughout senior management and portfolio management staff.
What Types of Clients Does Dana Investment Advisors Accept?
Dana has mostly individual clients, more than half of whom are high-net-worth. Institutional clients include bank or thrift institutions, investment companies, pooled investment vehicles, pension and profit sharing plans, charitable organizations, state or municipal government entities, insurance companies, corporations and APL traded platform accounts.
Dana Investment Advisors Minimum Account Sizes
The targeted account size at Dana is $1 million for equity accounts and $500,000 for fixed income accounts, but this may be waived in certain circumstances.
Services Offered by Dana Investment Advisors
Dana’s services include the following:
Investment supervisory services
Wrap fee programs
The firm does not provide financial planning services like budgeting, retirement planning or tax planning.
Equity and fixed-income investments are part of the strategy at Dana. Around 36% of client money is invested in equities and 43% is invested in different types of bonds. Only 2% 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.
Fees Under Dana Investment Advisors
Fees for asset management are based on a percentage of assets under management according to the following fee schedule:
|First $10 million||0.75%|
|Next $15 million||0.65%|
|Over $25 million||0.50%|
Dana also earns performance fees if a client’s investment performances outpaces a mutually-agreed upon benchmark.
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.
There are no disclosures on the record for Dana in the past 10 years.
Where Is Dana Investment Advisors Located?
The firm’s main office is at 20700 Swenson Drive, Suite 400 Waukesha, WI 53186.
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
Tips for Investment
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All information was accurate as of the writing of this article.