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NAICS 523940, industry

NAICS 523940: Portfolio management and investment advice

NAICS 523940 is the industry code for portfolio management and investment advice. Use it on loan applications, tax forms and registrations. Explore financing for professional services and start your application when you are ready.

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What 523940 covers

Portfolio management and investment advice includes registered investment advisers, wealth managers, financial planners and fund managers who manage portfolios or give investment advice for a fee.

NAICS 2022 combined portfolio management (523920) and investment advice (523930) into 523940.

Included in this code

  • Registered investment advisers
  • Financial planners
  • Wealth management firms
  • Hedge fund and private equity managers

Not this code

Businesses that use 523940

RIA firmFinancial planning practiceWealth manager

Financing for this trade

Advisory firms use SBA 7(a) loans and specialty lenders to buy books of business and fund succession plans. Lenders value recurring fees and client retention.

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Is 523940 the right code for a financial advisor?

Yes, if you manage portfolios or give investment advice for fees. Brokers earning commissions on trades use 523150. The closest alternatives are 523150 (investment banking and securities intermediation) and 524210 (insurance agencies and brokerages). Use whichever matches your largest revenue stream, and keep it consistent across tax filings, SBA forms and lender applications.

What is the SBA size standard for 523940?

The SBA size standard for 523940 is $47M in average annual receipts. SBA averages total gross receipts over the last five completed fiscal years and adds in any affiliates under common control. A financial advisor at or below that figure counts as small for SBA 7(a) and 504 loans and for federal small business contracts.

How do financial advisers finance practice acquisitions?

SBA 7(a) loans and specialty practice lenders finance acquisitions of advisory books, valued on recurring fee revenue. Lenders review client retention, asset levels and succession agreements. Businesses within the $47M SBA size standard can also use SBA 7(a) loans of up to $5 million for working capital, equipment or a buyout, and SBA 504 loans for owner occupied buildings.

What does NAICS 523940 cover?

Portfolio management and investment advice. Industry level code in NAICS 2022, under 52 Finance and insurance, 523 Securities, commodity contracts, and other financial investments and related activities, 5239 Other financial investment activities, 52394 Portfolio management and investment advice.

What financing do NAICS 523940 businesses use?

Equipment financing, working capital, SBA loans and invoice factoring are the products placed most for professional services businesses. Start an application and the AI matches the deal to lenders that fund this code.

Where do I put NAICS 523940?

On the SBA loan application, on federal Schedule C or Form 1120, on SAM.gov and state registrations, and on most lender applications. A business can report more than one code; use this one if it describes what produces most of your revenue.