NAICS Code for Financial Planning
The official U.S. Census 2022 NAICS classification representing Financial Planning is primary NAICS code 523940 (Portfolio Management and Investment Advice).
NAICS Classification Details
| NAICS Code | 523940 |
|---|---|
| Official Title | Portfolio Management and Investment Advice |
| Primary SIC Equivalent | 6282 - Investment Advice |
| SBA Size Standard | $47.00 Million (Basis: Receipts) |
| Census Definition | 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. |
Alternate and Sub-Industry Mappings
Depending on specific business functions, your organization may also fall under these alternate classifications:
No alternate NAICS codes mapped.
Frequently Asked Questions
What is the primary NAICS code for Financial Planning?
The primary NAICS code is 523940, officially titled "Portfolio Management and Investment Advice" in the 2022 standard revision.
What is the equivalent SIC code for Financial Planning?
The primary 1987 Standard Industrial Classification (SIC) code equivalent is 6282 ("Investment Advice").
Are SBA size standards applicable to 523940?
Yes, the SBA standard for NAICS code 523940 defines whether a firm is a small business for government contracting and loans. The current standard is $47.00 Million (Basis: Receipts).