Kathryn Stephany, JD
AREAS OF EXPERTISE
• Operational Due Diligence
• Governance
• Operational Controls
Kate Stephany joined FactRight in 2013 as Securities Attorney. She now serves as General Counsel, overseeing all legal matters and regulatory initiatives for the firm, and focusing on the business and governance areas of operational due diligence reports.
Prior to working at FactRight, Kate practiced bankruptcy law, was part of the finance department of a large insurance company, and provided contract work in due diligence for an international financial services company.
- Juris Doctorate, William Mitchell College of Law
- Bachelor of Science, Finance, University of Illinois
- Past co-vice chair of Legal and Regulatory Committee, ADISA
- Member of ADISA legal and Regulatory committee
- Member, State Bar of Minnesota
- MSU Women in Leadership Advisory Board – 2021
Recent Blogs from FactRight
- Shamrocks & Due Diligence: A Recap of FactRight’s 2025 RIA Due Diligence Conferenceby Kate@FactRight.com (Kate Stephany) on March 27, 2025 at 6:07 pm
- Action Packed Recap from FactRight’s 2024 Annual Due Diligence Conferenceby sarah@factright.com (Sarah Kieser) on October 10, 2024 at 7:14 pm
*Dramatic suspenseful music* Thank you to the 480 industry professionals and wealth managers who ventured to the home of the Batman Building, Nashville, Tennessee for FactRight’s 2024 Annual Due Diligence conference. It was a legendary success, and we, the FactRight staff, are so grateful for your continued support and participation.
- Understanding Master Lease Mechanics in DST Underwritingby Houston Hyde, Mountain Dell Consulting and Brandon Raatikka, FactRight on May 23, 2024 at 8:04 pm
As the DST market has grown over the past several years, the nuances of available programs have proliferated. Given the structural requirements of Revenue Ruling 2004-86, these programs do not behave like traditional real estate investments in certain respects. In our experience working with wealth advisory firms seeking 1031 solutions for their clients, understanding the differences among master lease structures in the market can be a common hurdle. Closely related is how a particular structure may behave differently in various performance scenarios, and how the property underwriting interacts with that structure.
- Highlight Reel from FactRight’s 2024 RIA Spring Due Diligence Conferenceby Kate@FactRight.com (Kate Stephany) on March 13, 2024 at 5:07 pm
With March Madness upon us, what better way to celebrate then to recap some of the shining moments that happened at the FactRight RIA Spring Due Diligence Conference—and what a conference it was!
- Loan Guarantee Fees in Investment Programs: Risk Compensation or Rent Seeking?by kevin@factright.com (Kevin Kirkeby) on November 20, 2023 at 7:53 pm
Company owners and other executives often receive compensation for providing a personal guarantee to a commercial loan their investment program is seeking. The size of this personal guarantee fee varies considerably, as does the level of disclosure. We believe the personal guarantor should be compensated, but it must be commensurate with the risk the guarantor is taking on. Drawing upon FactRight’s experience in reviewing private real estate and other alternative investment programs, this blog post focusses on personal guarantees (rather than corporate guarantees), discusses the typical range of fees, and reviews the factors that influence a reasonable fee amount.