{
  "@context": [
    "https://schema.org",
    {
      "ec": "https://entitycodes.org/vocab#"
    }
  ],
  "@type": "DefinedTerm",
  "@id": "https://entitycodes.org/naics/523940/",
  "identifier": "523940",
  "name": "Portfolio Management and Investment Advice",
  "description": "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.",
  "url": "https://entitycodes.org/naics/523940/",
  "inDefinedTermSet": {
    "@type": "DefinedTermSet",
    "name": "NAICS 2022",
    "url": "https://entitycodes.org/naics/"
  },
  "sameAs": [
    "https://www.census.gov/naics/?input=523940&year=2022"
  ],
  "additionalProperty": [
    {
      "@type": "PropertyValue",
      "name": "SBA size standard",
      "value": "$47,000,000 receipts",
      "unitText": "USD receipts",
      "description": "13 CFR 121.201, as-of 2023-03-17"
    },
    {
      "@type": "PropertyValue",
      "name": "IRS PBA code",
      "value": "523900",
      "description": "IRS Principal Business Activity code (method: rolled-up)"
    }
  ],
  "ec:crosswalk": [
    {
      "system": "SIC 1987",
      "code": "6282",
      "title": "Investment Advice",
      "confidence": "chain",
      "via": "SIC1987:6282\u2192NAICS1997:52392\u21922002:523920\u21922007:523920\u21922012:523920\u21922017:523920\u21922022:523940",
      "url": "https://entitycodes.org/sic/6282/"
    },
    {
      "system": "SIC 1987",
      "code": "6371",
      "title": "Pension, Health, and Welfare Funds",
      "confidence": "chain",
      "via": "SIC1987:6371\u2192NAICS1997:52392\u21922002:523920\u21922007:523920\u21922012:523920\u21922017:523920\u21922022:523940",
      "url": "https://entitycodes.org/sic/6371/"
    },
    {
      "system": "SIC 1987",
      "code": "6733",
      "title": "Trusts, Except Educational, Religious, and Charitable",
      "confidence": "chain",
      "via": "SIC1987:6733\u2192NAICS1997:52392\u21922002:523920\u21922007:523920\u21922012:523920\u21922017:523920\u21922022:523940",
      "url": "https://entitycodes.org/sic/6733/"
    },
    {
      "system": "SIC 1987",
      "code": "6799",
      "title": "Investors, NEC",
      "confidence": "chain",
      "via": "SIC1987:6799\u2192NAICS1997:52392\u21922002:523920\u21922007:523920\u21922012:523920\u21922017:523920\u21922022:523940",
      "url": "https://entitycodes.org/sic/6799/"
    }
  ],
  "ec:provenance": {
    "definition": {
      "source": "US Census 2022 NAICS Manual",
      "type": "US gov \u2014 public domain"
    },
    "crosswalk": {
      "source": "Census NAICS\u2194SIC concordance",
      "method": "transitive chain (NOT direct)"
    },
    "sba_size_standard": {
      "source": "SBA Table of Size Standards (13 CFR 121.201)",
      "as_of": "2023-03-17"
    }
  },
  "license": "https://www.usa.gov/government-works",
  "dateModified": "2026-07-21",
  "isPartOf": {
    "@type": "DefinedTerm",
    "identifier": "5239",
    "name": "Other Financial Investment Activities",
    "@id": "https://entitycodes.org/naics/5239/"
  }
}