National American Industry Classification System (NAICS) codes are used by the US government to classify and analyze economic data regarding businesses and industries. The investment services industry encompasses firms that earn fees by managing assets or capital for clients or providing investment advice. There are several NAICS codes that apply to the various segments of the investment services sector. These codes help categorize companies and analyze trends in areas like employment, revenues, number of firms, and market share. The key NAICS codes for investment services include those for securities, commodity contracts, funds, trusts, and other financial vehicles as well as miscellaneous financial investment activities. Understanding the NAICS system provides useful insights into the structure and performance of the investment services industry.
NAICS 523 Securities, Commodity Contracts, and Other Financial Investments
NAICS code 523 covers establishments that are primarily engaged in one of more of the following: underwriting securities issues; making markets for securities; acting as agents between buyers and sellers of securities and commodities; providing securities and commodity exchange services; and providing other services related to securities and commodities. This segment includes investment banks, securities brokerages, commodity contracts brokerages, securities exchanges, and more. Key NAICS codes under 523 include: 523110 Investment Banking and Securities Dealing; 523120 Securities Brokerage; 523130 Commodity Contracts Dealing; 523140 Commodity Contracts Brokerage; and 523210 Securities and Commodity Exchanges. Firms in these categories represent a major component of the investment services ecosystem.
NAICS 525 Funds, Trusts, and Other Financial Vehicles
NAICS 525 encompasses firms primarily engaged in pooling securities or other assets on behalf of shareholders or beneficiaries. Key NAICS codes in this segment include: 525110 Pension Funds; 525120 Health and Welfare Funds; 525130 Open-End Investment Funds; 525190 Other Financial Vehicles. This covers a range of investment products like mutual funds, closed-end funds, unit investment trusts, hedge funds, private equity funds, venture capital funds, and more. These investment vehicles are a core offering of many investment services firms.
NAICS 5239 Other Financial Investment Activities
NAICS 5239 covers miscellaneous financial investment activities. Relevant NAICS codes include: 523991 Trust, Fiduciary, and Custody Activities; 523999 Miscellaneous Financial Investment Activities; 52392 Portfolio Management; and 52393 Investment Advice. This segment includes financial planners, investment advisers, trusts, estates, agency accounts, family offices and more. These services represent an important component of the investment services ecosystem.
In summary, NAICS codes like 523, 525, and 5239 categorize and provide data on major investment services including securities dealing, investment funds, portfolio management, investment advice, and related financial vehicles. These codes offer insights into the composition and performance of the investment industry.