2022 Edition

national industry 523940

Portfolio Management and Investment Advice

Overview

This industry comprises establishments primarily engaged in managing the portfolio assets (i.e., funds) of others on a fee or commission basis and/or providing customized investment advice to clients on a fee basis. Establishments providing portfolio management have the authority to make investment decisions, and they derive fees based on the size and/or overall performance of the portfolio. Establishments providing investment advice provide financial planning advice and investment counseling to meet the goals and needs of specific clients, but do not have the authority to execute trades.

The immediate parent of national industry 523940 is international industry 52394: Portfolio Management and Investment Advice

Illustrative Examples

  • Financial planning services, customized, fees paid by client
  • Investment advisory services, customized, fees paid by client
  • Managing trusts
  • Portfolio fund managing

2022 NAICS Edition Cross References

  • Establishments primarily engaged in investment banking, securities intermediation, and commodity contracts intermediation are classified in Industry Group 5231, Securities and Commodity Contracts Intermediation and Brokerage;
  • Establishments primarily engaged in acting as principals (except investment bankers, securities dealers, and commodity contracts dealers) in buying or selling financial contracts are classified in Industry 523910, Miscellaneous Intermediation;
  • Establishments primarily engaged in administering personal estates are classified in U.S. Industry 523991, Trust, Fiduciary, and Custody Activities;
  • Legal entities (i.e., trusts, estates, or agency accounts) administered on behalf of the beneficiaries under the terms of a trust agreement, will, or agency agreement are classified in Industry 525920, Trusts, Estates, and Agency Accounts;
  • Establishments providing investment advice in conjunction with their primary activity, such as the sale of stocks, bonds, annuities, and real estate, are classified according to their primary activity; and
  • Establishments known as publishers providing generalized investment information to subscribers are classified in Subsector 513, Publishing Industries.

Sub-Descriptions

  1. 523940 - Certified financial planners, customized, fees paid by client
  2. 523940 - Financial investment advice services, customized, fees paid by client
  3. 523940 - Financial planning services, customized, fees paid by client
  4. 523940 - Investment advice consulting services, customized, fees paid by client
  5. 523940 - Investment advice counseling services, customized, fees paid by client
  6. 523940 - Investment advisory services, customized, fees paid by client
  7. 523940 - Investment management
  8. 523940 - Managing investment funds
  9. 523940 - Managing mutual funds
  10. 523940 - Managing personal investment trusts
  11. 523940 - Managing trusts
  12. 523940 - Mutual fund managing
  13. 523940 - Pension fund managing
  14. 523940 - Personal investments trusts, managing
  15. 523940 - Portfolio fund managing
  16. 523940 - Private equity fund managing

History

The NAICS editions in which this code was present are indicated below. In the event that a code was changed from the prior edition the equivalent value in that edition is provided for reference.

Edition Existed Equivalent Value
2002 523920 523930
2007 523920 523930
2012 523920 523930
2017 523920 523930
2022 523940

Standard Industrial Classification (SIC) Mappings

  1. 6282 - Investment Advice
  2. 6371 - Pension, Health, and Welfare Funds
  3. 6733 - Trusts, Except Educational, Religious, and Charitable

Insurance Industry Mappings

The US Property and Casualty Insurance Industry may use the following classification descriptions which might encompass national industry 523940, Portfolio Management and Investment Advice:

  1. consultant financial
  2. consultant financial planning
  3. finance and insurance
  4. financial advisor except stockbroker
  5. financial planner
  6. financial planner consultant
  7. financial planner office
  8. financial planner office no stock brokerage
  9. financial planning
  10. financial planning and investment advice
  11. financial planning service
  12. investment advice
  13. investment advice naic
  14. investment company
  15. investment institution
  16. investment service
  17. office financial planner
  18. other consulting service
  19. other financial investment activity
  20. pension health and welfare fund
  21. pension health and welfare plan labor union
  22. pension health and welfare plan other than labor union
  23. pension or health and welfare fund
  24. pension welfare and retirement fund
  25. pension welfare retirement benefit fund for labour union
  26. pension welfare retirement benefit fund labour union
  27. pension welfare retirement benefit fund not for labour union
  28. pension welfare retirement benefit fund not labour union
  29. portfolio management
  30. portfolio management naic
  31. retirement pension welfare benefit fund labour union
  32. retirement pension welfare benefit fund not labour union
  33. security commodity contract and other financial investment and related activity
  34. trust except educational religious and charitable
  35. trust except educational religious or charitable
  36. wealth manager
  37. welfare pension retirement benefit fund labour union
  38. welfare pension retirement benefit fund not labour union

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