It’s built for clients who want a professional team to manage portfolios using a disciplined active-management process and risk-controlled portfolio construction, rather than a self-directed or robo-style experience.
It serves a broad range of clients, including institutions and families.
Investment services
Dana actively manages US equity, fixed income, and blended strategies, using a process-driven approach that pairs risk controls with security selection.
Examples include:
US equity strategies (large- to small-cap, including socially responsible options).
Fixed income strategies that focus on relative valuations across the bond universe, incorporate ongoing risk analysis, and include ESG-oriented fixed income offerings within the lineup.
Blended allocations that combine multiple asset classes within a single portfolio framework.
Wealth Management services
Dana’s Wealth Management offering is designed for clients who want a more holistic view of their investment portfolio.
Examples include:
Investment management (asset allocation, monitoring, rebalancing).
Financial and estate planning support.
Executive and business services, including benefits, succession planning, and equity compensation considerations.
How the service works
Accounts can be managed on a discretionary basis (Dana trades without requesting approval each time) or on a non-discretionary basis (trade approval is required).
Portfolios are monitored and reviewed at least monthly, with clients typically receiving ongoing reporting.
What are the pros and cons of Dana Investment Advisors?
Dana Investment Advisors is geared toward clients who want human-led, actively managed portfolio management across equity, fixed income, and blended strategies, with an optional Wealth Management layer for broader portfolio guidance.
However, its service model and stated higher account minimums may make it a less natural fit for smaller, self-directed, or automation-first investors.
It’s important to weigh up these pros and cons before deciding to work with a firm. Here are some of the core advantages and drawbacks to help get you started.
Pros of Dana Investment Advisors:
Human-led, active portfolio management: Portfolios are managed by investment professionals using a disciplined active management process rather than a robo-advisor.
Broad strategy coverage across asset classes: Dana manages US equity, fixed income, and blended strategies, including ESG-oriented approaches, allowing portfolios to be constructed across multiple asset classes within a single advisory relationship.
Wealth management for a holistic portfolio view: Beyond strategy-based asset management, it offers services that address asset allocation, portfolio management, retirement planning, and related needs as part of an ongoing advisory relationship.
Experience and long operating history: Founded in 1980, the firm has decades of experience managing assets for institutional and individual clients, which may appeal to investors looking for an established advisory organization.
Cons of Dana Investment Advisors:
High minimum account size for retail investors: The firm’s stated minimum account size for retail clients is $1,000,000, which may limit accessibility for smaller investors, even though the minimum can be waived in certain circumstances.
Not designed for self-directed or low-touch investors: It does not offer a robo-advisor platform, self-directed trading tools, or app-based portfolio construction, which may not suit investors who prefer to manage investments independently.
Active management won’t match every preference: The service emphasizes active security selection, which may not suit investors seeking a strictly passive, index-only approach.
Dana Investment Advisors fees: How much does Dana Investment Advisors cost?
The firm charges tiered, asset-based management fees that range from 0.15% to 1.00%anually.
The firm’s wealth management offering starts at 1.00% on the first $1,000,000.
Fees are billed quarterly, typically in advance for most strategies and in arrears for midcap value, small cap value, and SMID cap value.
Management fee schedule
Equity and balanced strategies
All other equity and balanced strategies:
| Tier | Assets | Fee |
|---|---|---|
| First | $10,000,000 | 0.75% per year |
| Next | $15,000,000 | 0.65% per year |
| Over | $25,000,000 | 0.50% per year |
Small cap, Catholic small cap & concentrated small cap:
| Tier | Assets | Fee |
|---|---|---|
| First | $10,000,000 | 0.75% per year |
| Next | $15,000,000 | 0.70% per year |
| Over | $25,000,000 | 0.65% per year |
ESG-focused equity and preferred income
Carbon sensitive ESG, Catholic & social ESG equity:
| Tier | Assets | Fee |
|---|---|---|
| First | $10,000,000 | 0.75% per year |
| Next | $15,000,000 | 0.65% per year |
| Over | $25,000,000 | 0.60% per year |
Preferred income:
| Tier | Assets | Fee |
|---|---|---|
| First | $3,000,000 | 0.45% per year |
| Next | $7,000,000 | 0.40% per year |
| Over | $10,000,000 | 0.35% per year |
Value equity strategies
Midcap value equity:
| Tier | Assets | Fee |
|---|---|---|
| First | $100,000,000 | 0.75% per year |
| Over | $100,000,000 | 0.60% per year |
Small cap value & SMID cap value equity:
| Tier | Assets | Fee |
|---|---|---|
| First | $50,000,000 | 0.75% per year |
| Over | $50,000,000 | 0.60% per year |
Fixed income strategies
Intermediate & social ESG bond:
| Tier | Assets | Fee |
|---|---|---|
| First | $3,000,000 | 0.30% per year |
| Next | $7,000,000 | 0.25% per year |
| Over | $10,000,000 | 0.20% per year |
Municipal bond & municipal ETF bond:
| Tier | Assets | Fee |
|---|---|---|
| First | $3,000,000 | 0.35% per year |
| Next | $7,000,000 | 0.25% per year |
| Over | $10,000,000 | 0.20% per year |
Limited-volatility fixed income and wealth management
Limited Volatility Bond:
| Tier | Assets | Fee |
|---|---|---|
| First | $3,000,000 | 0.30% per year |
| Next | $7,000,000 | 0.25% per year |
| Next | $15,000,000 | 0.20% per year |
| Over | $25,000,000 | 0.15% per year |
Wealth management:
| Tier | Assets | Fee |
|---|---|---|
| First | $1,000,000 | 1.00% per year |
| Next | $4,000,000 | 0.80% per year |
| Over | $5,000,000 | 0.70% per year |
Other costs clients may pay:
In addition to Dana’s management fee, clients may incur brokerage and other trading-related costs, custodian fees, and underlying mutual fund and ETF expenses.
For clients invested through a third-party wrap fee program, clients generally pay fees to the program sponsor, and the sponsor pays Dana a management fee that may differ from the schedule above.
What is Dana Investment Advisors’ minimum account size?
Dana primarily works with institutional clients and certain high-net-worth individuals. Its minimum account requirements are set accordingly.
Its strategy-specific minimums range from $1,000,000 to $10,000,000.
The firm’s targeted minimums vary by investment strategy. While these minimums can be waived in certain circumstances, they are generally higher than those of digital or mass-market advisory platforms.
Minimum account size by strategy:
| Strategy | Targeted minimum account size |
|---|---|
| Midcap Value, Small Cap Value, and SMID Cap Value Equity | $10,000,000 |
| All other equity strategies and Preferred Income | $1,000,000 |
| All bond strategies | $3,000,000 |
Dana Investment Advisors is not designed for small or entry-level investors.
Who should choose Dana Investment Advisors?
Dana Investment Advisors is best suited for institutional clients and higher-net-worth investors who want a human-led, actively managed relationship rather than an automated or self-directed investing experience.
Dana Investment Advisors works well for:
Institutional investors: Qualified pension and profit-sharing plans, Taft-Hartley plans, unions, financial institutions, public-sector entities, nonprofits, and faith-based organizations that require professionally managed strategies and ongoing oversight.
High-net-worth individuals: Investors who meet Dana’s specific minimums and want active management delivered by investment professionals rather than automated portfolios.
Clients seeking active management: Those who prefer a disciplined, process-driven approach using quantitative modeling and fundamental research, rather than purely passive or index-only strategies.
Investors wanting broader portfolio guidance: Clients who value an integrated wealth management relationship that can address asset allocation, portfolio management, and retirement planning as part of ongoing advice.
Who might not benefit as much:
Smaller or entry-level investors: With minimums ranging from $1,000,000 to $10,000,000, the service is not designed for investors starting with limited capital.
Automation-first or self-directed investors: The firm does not offer robo-advisor tools, self-directed trading platforms, or app-based portfolio construction.
Investors seeking purely passive solutions: Those who prefer strictly index-based portfolios with minimal manager discretion may find the active-management focus less aligned with their preferences.
Dana Investment Advisors: Is it secure?
Dana Investment Advisors is an SEC-registered investment adviser. It operates under regulatory oversight and a fiduciary standard, uses independent custodians to hold client assets, and maintains safeguards to protect nonpublic personal information.
Dana maintains physical, procedural, and electronic safeguards for clients’ nonpublic personal information and notes that employees are trained to keep client information in strict confidence.
It also states that nonpublic personal information is collected to open and administer accounts and meet regulatory obligations, is not sold, and is generally not disclosed to third parties except to process transactions, service accounts, or as required/permitted by law.
Client assets are maintained with independent custodians, which provide account statements and trade confirmations. Where assets are held with a brokerage custodian, SIPC coverage (provided by the custodian, subject to SIPC rules and limits) generally protects against brokerage failure – not market losses.
Dana Investment Advisors: Customer service
Dana Investment Advisors delivers customer service through a traditional, advisor-led model, rather than a digital support system. Clients typically interact directly with human advisors and firm staff.
In addition to advisor-led interactions, it also provides standard client service channels commonly offered by established advisory firms.
Clients and prospective clients can contact the firm by telephone or email, and Dana maintains physical office locations where in-person meetings may be arranged as appropriate.
Dana Investment Advisors: Mobile app
Dana Investment Advisors does not offer a dedicated mobile app for clients to manage accounts or interact with the firm.
Clients typically access portfolio information, account statements, and transaction details through their independent custodians. At the same time, communication and service needs are handled directly through advisors and firm staff via phone, email, or scheduled meetings.
This may feel limiting for investors who expect real-time account access, notifications, or portfolio management through a standalone mobile application.
Is Dana Investment Advisors worth it?
Whether Dana Investment Advisors is worth it depends on your investment goals and the level of service you’re looking for.
For institutional investors and higher-net-worth individuals who meet the firm’s strategy-specific minimums, Dana can be a good fit.
Clients who prefer ongoing relationships with investment professionals, discretionary management options, and traditional service channels may find this model appealing.
However, Dana is unlikely to be a good fit for smaller investors, automation-first users, or those seeking low minimums and low costs on digital platforms.
With high minimums and no mobile app or robo-advisor tools, the service prioritizes depth of advice over accessibility or digital convenience.
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