Dana Investment Advisors

What Dana Investment Advisors does

Dana Investment Advisors is an independent, employee-owned asset management firm founded in 1980 and headquartered in Waukesha, Wisconsin. The firm actively manages a broad range of public U.S. equity and fixed income strategies for institutional clients (corporations, endowments, foundations, family offices, municipalities, consultants) and individual investors, plus a fee-based wealth management advisory practice. Its product portfolio spans 20 distinct strategies including Large Cap, Small Cap, Mid Cap, SMID Cap, All Cap, Unconstrained, Concentrated Dividend, Catholic and Social ESG, and Carbon Sensitive equity strategies, alongside Intermediate Bond, Limited Volatility, Municipal Bond, Preferred Income, Social ESG Bond, and Balanced fixed income strategies. Underlying these strategies is a proprietary quantitative valuation model combined with fundamental analysis, plus a size-adjusted ESG scoring process that supports faith-based and ESG mandates; the firm is a UN PRI Signatory and member of US SIF, Ceres Investor Network, and ICCR. Distribution is conducted through direct institutional sales, a wealth advisor channel, the Dana Funds mutual fund platform (since 2010), and a planned Dana ETFs launch in 2025. The firm generates revenue primarily through recurring asset management and wealth management advisory fees, with AUM exceeding $7 billion as of 2016 and the team numbering more than 50 professionals. Dana is controlled by senior employee-owners following the 2010 transition from founder Mike Dana, and in March 2024 expanded its value-equity capabilities via the acquisition of the Smith, Graham & Co. equity team.

Name

Dana Investment Advisors

Legal name

Dana Investment Advisors

Website

https://danainvestment.com

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

11–50 employees

Short description

Dana Investment Advisors is an independent, employee-owned asset manager founded in 1980 that actively manages U.S. equity, fixed income, and ESG strategies across 20+ products for institutional clients and high-net-worth individuals, supported by proprietary valuation models and a wealth management practice.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910)

SIC

Investment Advice (6282)

akta.pro primary industry

Broker-Dealer Affiliated Wealth Advisory (FSAEABAB)

akta.pro secondary industries

Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB), Multi-Asset Mutual Funds & UCITS (Balanced/Allocation Funds) (FSAAAJAA)

Keywords

• Asset management services
• Investment advisory services
• Wealth management advisory
• Equity strategies management
• Fixed income strategies

Headquarters

HQ city

Brookfield

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Asset Management Fees: Dana Investment Advisors generates revenue through fee-based asset management services. As an independent, fee-based wealth advisor, the firm charges fees based on assets under management for investment management services including equity strategies, fixed income strategies, and wealth management.
2. Wealth Management Advisory Fees: The firm provides comprehensive wealth management services including investment management, financial and estate planning, and executive and business services for individuals, families, small businesses, and institutions on a fee basis.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Dana Investment Advisors is an independent, employee-owned asset management firm that actively manages a broad range of public U.S. equity and fixed income investment strategies for corporations, endowments, foundations, family offices, municipalities, faith-based investors, and individuals. The firm also provides fee-based wealth management advisory services including investment management, financial and estate planning, and executive and business services. Since 2010, it has distributed strategies through the Dana Funds mutual fund platform and announced ETF launches for 2025.

Product overview

Dana Investment Advisors is an Asset Management firm that offers a comprehensive suite of investment strategies and wealth management services. The firm's product portfolio consists of 20 distinct investment strategies across equity and fixed income categories, plus mutual fund offerings and wealth management advisory services. Equity strategies include Large Cap, Small Cap, Mid Cap, SMID Cap, All Cap, Large Cap Growth, Large Cap Value, Unconstrained, Concentrated Dividend, and faith-based/ESG-focused strategies (Catholic, Social ESG, Carbon Sensitive). Fixed income strategies include Intermediate Bond, Limited Volatility, Municipal Bond, Preferred Income, Social ESG Bond, and Balanced Strategy. The firm also provides fee-based Wealth Management advisory services including investment management, financial and estate planning, and executive and business services. Since 2010, the firm has offered mutual funds through the Dana Funds platform (danafunds.com), and announced plans to launch three exchange traded funds in 2025.

Differentiator

Problem solved

Functional benefit

Brands

• Dana Funds: Mutual fund offerings launched in 2010. Visit www.danafunds.com.
• Dana ETFs

Products and services

• Unconstrained Equity Strategy An opportunistic approach to domestic equities within a highly concentrated portfolio (15-30 holdings) designed to be flexible through market cycles, seeking to generate long-term capital appreciation exceeding the S&P 500 Index through purchase of companies that can thrive across disparate market environments.
• Small Cap Value Strategy A systematic quantitative approach combined with traditional fundamental analysis to identify value in the small-cap domestic equity universe, constructing a diversified portfolio of 50-75 securities from the most attractive candidates.
• Midcap Value Strategy A systematic quantitative approach combined with traditional fundamental analysis within the midcap domestic equity universe, focusing on identification of value and constructing a diversified portfolio of 50-75 securities.
• SMID Cap Value Strategy A systematic quantitative approach combined with fundamental analysis within the small and midcap domestic equity universes, constructing a diversified portfolio of 125-150 securities.
• Balanced Strategy A diversified portfolio combining fixed income and equity strategies designed to provide income while preserving and growing capital, with actively managed asset allocations based on client-specific objectives.
• Preferred Income Strategy A portfolio of fixed and variable-rate preferred stock securities focused on preservation of principal, liquidity management, and higher yields, emphasizing preferred securities with short to intermediate call dates.
• Social ESG Bond Strategy A portfolio of high-quality government, agency, mortgage and corporate fixed income securities integrating environmental, social and governance metrics into the investment process.
• Intermediate Bond Strategy A portfolio of high-quality government, agency, mortgage and corporate fixed income securities focusing on risk control through duration, yield curve positioning, sector and security selection.
• Municipal Bond Strategy A tax-exempt portfolio of high quality, shorter duration, and self-amortizing fixed income securities focused on providing tax-exempt income and mitigating taxes for individuals or corporations.
• Limited Volatility Strategy

Quantifiable outcome

• Downside Capture Rate of 74.9% and Upside Capture Rate of 127.7% for Unconstrained Equity Strategy (as of 12/31/25)
• +2 more outcomes

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered moderate, core and minor.

• US SIF: The Forum for Sustainable and Responsible InvestmentmoderateOthersDana Investment Advisors is a sponsor of US SIF: The Forum for Sustainable and Responsible Investment. US SIF promotes sustainable, responsible and impact investing across all asset classes. Dana is proud sponsors of the US SIF Annual Conference.
• Ceres Investor NetworkcoreStrategic or Co-development PartnerDana is a member of the Ceres-led Investor Network, a group that advocates, engages, and influences companies, financial market regulators, and government policies in addressing climate and sustainability risks and opportunities.
• Interfaith Center on Corporate Responsibility (ICCR)coreStrategic or Co-development PartnerICCR is a coalition of faith-based and other like-minded investors working together to improve the environmental, social, and governance practices of corporations. Dana participates in corporate engagements including investor letters and statements, dialogues, and proxy resolutions.
• Task Force on Climate-related Financial Disclosures (TCFD)minorOthersDana is a proud supporter of TCFD and their efforts to develop consistent climate-related financial risk disclosures for various stakeholders. Such disclosures are important for identifying risks and advocating for solutions.

Scale indicators3 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Manning & Napier: Mid-sized U.S. active asset manager offering multi-asset, equity, and fixed-income strategies through SMAs and mutual funds — directly comparable to Dana in size, channel mix, and active-management focus.
• Boston Trust Walden Company: Independent, employee-owned RIA delivering active U.S. equity, fixed-income, and ESG strategies to institutional and wealth clients — closely comparable to Dana on structure, strategy mix, and ESG integration approach.
• Ariel Investments: Independent, employee-owned active value-equity manager serving institutional and retail channels with concentrated equity strategies — comparable on ownership structure and the active U.S. equity value proposition.
• GW&K Investment Partners: Boutique active asset manager with strengths in small/mid-cap value and core fixed income sold to institutional and intermediary channels — directly comparable in boutique active-equity and fixed-income focus.
• Breckinridge Capital Advisors: Employee-owned active fixed-income manager serving institutional and wealth channels, with emphasis on risk-managed intermediate and municipal strategies — comparable to Dana's fixed-income book on structure and risk-control orientation.
• Snow Capital Group: Specialist active small/mid-cap value equity manager with 25+ year track record — directly comparable on the value-equity sleeve Dana expanded via the Smith Graham acquisition.
• Denali Asset Management: Independent active manager specializing in dividend and small/mid-cap equity strategies — overlaps with Dana's Concentrated Dividend and SMID/small-cap value sleeves.
• Fort Washington Investment Advisors: Employee-owned active manager (subsidiary of Western & Southern Financial) offering U.S. equity, fixed-income, and balanced strategies — comparable multi-strategy platform with institutional and intermediary distribution.
• Segall Bryant & Hamill: Active institutional asset manager offering small/mid-cap equity and fixed-income strategies — comparable boutique-active platform with shared consultant-channel distribution.

Broad incumbents

• Calvert (Eaton Vance / Morgan Stanley IM): Long-standing ESG and responsible-investing franchise now within Morgan Stanley Investment Management — broad incumbent peer to Dana's ESG and faith-based strategies, with materially larger scale and broader distribution.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/dana-investment-advisors
• Xx.com/Dana_Investment

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dana Investment Advisors