NAICS Code 52394 — Portfolio Management and Investment Advice

NAICS Industry in the official 2022 North American Industry Classification System (U.S. Census Bureau). It contains 1 direct sub-code.

Code	52394
Title	Portfolio Management and Investment Advice
Level	NAICS Industry (5-digit)
Edition	NAICS 2022 edition

Official definition (2022 NAICS)

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.

Illustrative Examples:

Financial planning services, customized, fees paid by client

Investment advisory services, customized, fees paid by client

Managing trusts

Portfolio fund managing

Cross-References.

This national industry shares the official Census description of 523940.

Where 52394 sits in the hierarchy

Level	Code	Title
Sector	52	Finance and Insurance
Subsector	523	Securities, Commodity Contracts, and Other Financial Investments and Related Activities
Industry Group	5239	Other Financial Investment Activities
NAICS Industry	52394	Portfolio Management and Investment Advice

Codes under 52394

Code	Title
523940	Portfolio Management and Investment Advice

Related NAICS Industry codes

• 52391 — Miscellaneous Intermediation
• 52399 — All Other Financial Investment Activities

Data: official 2022 NAICS structure, descriptions and Census concordances, U.S. Census Bureau — U.S. government works in the public domain (17 U.S.C. §105). Suggested reference, not an official determination.