Dana Investment Advisors provides portfolio management for individuals and small businesses, portfolio management for investment companies, and portfolio management for institutions.
Dana Investment Advisors reports 2,290 clients. They include 710 high-net-worth individuals, 673 other clients and 620 individual clients. Of its assets, 90.9% ($5.52B across 3,920 accounts) are managed with discretion; $556M across 59 accounts are not. A wrap fee program the firm both sponsors and manages holds $1.32B. Of its clients, 1% are outside the U.S. It advised 38 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 27% | 5% |
| High-net-worth individuals | 31% | 32% |
| Banking or thrift institutions | <1% | <1% |
| Investment companies | <1% | 6% |
| Pension and profit-sharing plans | 2% | 12% |
| Other client typesCharitable organizations; State or municipal government entities; Other investment advisers; Insurance companies; Sovereign wealth funds and foreign official institutions; Corporations and other businesses; Other | 40% | 45% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 620 | $321M | 5.3% | $518K |
| High-net-worth individuals | 710 | $1.93B | 31.8% | $2.72M |
| Banking or thrift institutions | Fewer than 5 | $124K | 0.0% | $124K |
| Investment companies | 6 | $351M | 5.8% | $58.5M |
| Pension and profit-sharing plans | 41 | $717M | 11.8% | $17.5M |
| Charitable organizations | 68 | $415M | 6.8% | $6.11M |
| State or municipal government entities | 57 | $1.03B | 17.0% | $18.1M |
| Other investment advisers | Fewer than 5 | $0 | 0.0% | — |
| Insurance companies | 11 | $204M | 3.4% | $18.5M |
| Sovereign wealth funds and foreign official institutions | Fewer than 5 | $0 | 0.0% | — |
| Corporations and other businesses | 103 | $824M | 13.6% | $8M |
| Other | 673 | $279M | 4.6% | $415K |
| Total | 2,290 | $6.08B | 100% | — |
- Clients
- 620
- Regulatory AUM
- $321M
- AUM share
- 5.3%
- Avg. per client
- $518K
- Clients
- 710
- Regulatory AUM
- $1.93B
- AUM share
- 31.8%
- Avg. per client
- $2.72M
- Clients
- Fewer than 5
- Regulatory AUM
- $124K
- AUM share
- 0.0%
- Avg. per client
- $124K
- Clients
- 6
- Regulatory AUM
- $351M
- AUM share
- 5.8%
- Avg. per client
- $58.5M
- Clients
- 41
- Regulatory AUM
- $717M
- AUM share
- 11.8%
- Avg. per client
- $17.5M
- Clients
- 68
- Regulatory AUM
- $415M
- AUM share
- 6.8%
- Avg. per client
- $6.11M
- Clients
- 57
- Regulatory AUM
- $1.03B
- AUM share
- 17.0%
- Avg. per client
- $18.1M
- Clients
- Fewer than 5
- Regulatory AUM
- $0
- AUM share
- 0.0%
- Avg. per client
- —
- Clients
- 11
- Regulatory AUM
- $204M
- AUM share
- 3.4%
- Avg. per client
- $18.5M
- Clients
- Fewer than 5
- Regulatory AUM
- $0
- AUM share
- 0.0%
- Avg. per client
- —
- Clients
- 103
- Regulatory AUM
- $824M
- AUM share
- 13.6%
- Avg. per client
- $8M
- Clients
- 673
- Regulatory AUM
- $279M
- AUM share
- 4.6%
- Avg. per client
- $415K
Total
- Clients
- 2,290
- Regulatory AUM
- $6.08B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 38
- Private funds advised
- 0
Dana Investment Advisors is paid through a percentage of assets under management, fixed fees (other than subscription fees) and performance-based fees; its fees and minimums are set out in its brochures on the SEC website.
Mark Mirsberger owns 25% to 50% of Dana Investment Advisors. The leadership team of Dana Investment Advisors includes President Mikhail Alkhazov, Chief Investment Officer Jerome Veranth and Chief Compliance Officer Michael Stewart. It has 60 employees, 28 of them in advisory roles.
Staff
- 60 employees
- 28 in advisory functions
- 25 state-registered reps
- 4 soliciting firms
- Owns 25% to 50% of Dana Investment Advisors Inc
Mark Mirsberger
Control person · since December 2003
- Owns 10% to 25% of Dana Investment Advisors Inc
Jerome Veranth
Control person · since January 2006
- Owns 5% to 10% of Dana Investment Advisors Inc
Stewart Family Irrevocable Trust
since January 2003
- Owns 5% to 10% of Dana Investment Advisors Inc
Duane Roberts
Control person · since October 2025
Dana Investment Advisors’ regulatory assets grew from $4.78B (March 2021) to $6.08B (March 2026); clients rose from 1,810 to 2,290 and employees from 46 to 60. In 2022, Legacy Capital Partners ($455M in its last filing) joined it.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Mar 2026March 2026 | $6.08B | 2,290 | 60 | 2 |
| Mar 2025March 2025 | $5.76B | 2,270 | 62 | 2 |
| Mar 2024March 2024 | $4.51B | 2,188 | 61 | 2 |
| Mar 2023March 2023 | $4.43B | 2,087 | 53 | 1 |
| Mar 2022March 2022 | $4.65B | 1,901 | 47 | 1 |
| Mar 2021March 2021 | $4.78B | 1,810 | 46 | 1 |
Firms that joined
20221 joined
- Legacy Capital PartnersLast filed AUM $455M
Firms whose SEC withdrawal reports a sale to this firm, and deals reported in the press. Teams that moved without selling a registered firm may not appear.
Besides its headquarters, Dana Investment Advisors has 1 office, with 2 listed addresses across 2 states.
New York · 1 listed address
- 165 Broadway, One Liberty Plaza, New York
Wisconsin · 1 listed address
- 20700 Swenson Drive, Suite 400, WaukeshaHQ
Contact and registration details
- Legal name
- Dana Investment Advisors Inc
- Headquarters
- 20700 Swenson Drive, Suite 400, Waukesha, WI 53186-0904
- Website
- danainvestment.com
- Phone
- 262-782-3631
- @dana-investment-advisors
- SEC file
- 801-14828
- Structure
- Wisconsin corporation
- Fiscal year end
- December
Dana Investment Advisors’ named custodian for separately managed accounts is Charles Schwab ($2.43B). Dana Investment Advisors does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $2.43B100%
At year end, Dana Investment Advisors’ separately managed accounts were mostly in stocks (53%) and bonds (36%). Its reported 13F holdings for the quarter ended 30 June 2026 total $3.84B across 572 positions; the largest are Apple Inc. (4.4%), Nvidia Corporation (4.1%) and Alphabet Inc. (3.2%).
What the accounts hold
- Stocks53%
- Funds8%
- Bonds36%
- U.S. government and agency bonds23%
- Investment grade corporate bonds8%
- State and local bonds5%
- Cash3%
How many clients does Dana Investment Advisors have?
Dana Investment Advisors has 2,290 clients and manages $6.08 billion for them, as of March 2026. They include 710 high-net-worth individuals, 673 other clients and 620 individual clients.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 24 March 2026
What services does Dana Investment Advisors offer?
Dana Investment Advisors provides portfolio management for individuals and small businesses, portfolio management for investment companies, and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Dana Investment Advisors use?
Dana Investment Advisors’ separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $2.43B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 24 March 2026
How many financial advisors does Dana Investment Advisors have?
Dana Investment Advisors has 25 investment adviser representatives registered with state securities authorities, out of 60 employees, and 28 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Dana Investment Advisors invest in?
At the end of its last fiscal year, Dana Investment Advisors’ separately managed accounts held 53% exchange-traded equities, 23% U.S. government and agency bonds, 8% investment grade corporate bonds, 8% registered funds (mutual funds, ETFs, BDCs), 5% state and local bonds and 3% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Dana Investment Advisors?
Dana Investment Advisors’ direct owners are Jerome Veranth, Mark Mirsberger, Stewart Family Irrevocable Trust and Duane Roberts, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 24 March 2026
How does Dana Investment Advisors get paid?
Dana Investment Advisors is paid through a percentage of assets under management, fixed fees and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Dana Investment Advisors?
Dana Investment Advisors’ main office is at 20700 Swenson Drive, Suite 400, Waukesha, WI 53186-0904. Its phone number is 262-782-3631. Its website is danainvestment.com.
