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NAICS Code 523940-01 Description (8-Digit)

Investment Management is a specialized industry that involves the professional management of various securities and assets to meet specific investment goals for clients. Investment managers work with individuals, corporations, and institutions to create and manage investment portfolios that align with their financial objectives. The industry is highly regulated and requires a deep understanding of financial markets, risk management, and investment strategies.

Hierarchy Navigation for NAICS Code 523940-01


Tools commonly used in the Investment Management industry for day-to-day tasks and operations.

  • Portfolio management software
  • Risk management software
  • Financial modeling tools
  • Investment analysis software
  • Trading platforms
  • Performance measurement tools
  • Asset allocation software
  • Investment research databases
  • Compliance management software
  • Client relationship management (CRM) software

Industry Examples of Investment Management

Common products and services typical of NAICS Code 523940-01, illustrating the main business activities and contributions to the market.

  • Mutual funds
  • Hedge funds
  • Pension funds
  • Endowment funds
  • Sovereign wealth funds
  • Exchange-traded funds (ETFs)
  • Private equity funds
  • Venture capital funds
  • Real estate investment trusts (REITs)
  • Insurance companies

Certifications, Compliance and Licenses for NAICS Code 523940-01 - Investment Management

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

  • Chartered Financial Analyst (CFA): A professional certification offered by the CFA Institute that measures and certifies the competence and integrity of financial analysts. It covers a broad range of topics relating to investment management, financial analysis, stocks, bonds, and derivatives. The CFA Institute is a global association of investment professionals that sets the standard for professional excellence.
  • Certified Financial Planner (CFP): A certification offered by the Certified Financial Planner Board of Standards that certifies financial planners who have met the board's education, examination, experience, and ethics requirements. It covers topics such as retirement planning, estate planning, tax planning, and investment management.
  • Series 7: A license that allows individuals to sell securities products such as stocks, bonds, and mutual funds. It is administered by the Financial Industry Regulatory Authority (FINRA) and requires passing an exam.
  • Series 63: A license that allows individuals to solicit orders for any type of security in a particular state. It is also administered by FINRA and requires passing an exam.
  • Investment Adviser Representative (IAR): A registration that allows individuals to provide investment advice to clients for a fee. It is regulated by the Securities and Exchange Commission (SEC) or state securities regulators and requires passing an exam.


A concise historical narrative of NAICS Code 523940-01 covering global milestones and recent developments within the United States.

  • The Investment Management industry has a long history dating back to the 18th century when the first mutual fund was created in the Netherlands. In the 20th century, the industry experienced significant growth, particularly in the United States, where the first index fund was created in the 1970s. The industry continued to evolve with the introduction of new financial products such as exchange-traded funds (ETFs) and the growth of alternative investments such as hedge funds and private equity. In recent years, the industry has faced challenges such as increased regulation and the rise of robo-advisors, which use algorithms to provide investment advice. Despite these challenges, the industry has continued to grow and adapt to changing market conditions. In the United States, the Investment Management industry has a more recent history, with the first mutual fund established in 1924. The industry experienced significant growth in the 1980s and 1990s, driven by the rise of defined contribution retirement plans such as 401(k)s. The industry also faced challenges during this period, including the stock market crash of 1987 and the dot-com bubble of the late 1990s. In the 21st century, the industry has continued to evolve with the growth of passive investing and the increasing popularity of ETFs. The industry has also faced increased scrutiny from regulators in the wake of the financial crisis of 2008. Despite these challenges, the Investment Management industry in the United States remains a vital part of the financial sector, providing individuals and institutions with a range of investment options.

Future Outlook for Investment Management

The anticipated future trajectory of the NAICS 523940-01 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

  • Growth Prediction: Stable

    The investment management industry in the USA is expected to continue to grow in the coming years. The industry is expected to benefit from the increasing demand for investment advice and portfolio management services from individuals and institutions. The industry is also expected to benefit from the growing popularity of passive investment strategies, which are expected to continue to gain market share from active strategies. However, the industry is also facing challenges such as increasing competition, fee pressure, and regulatory changes. Overall, the industry is expected to continue to grow, but firms will need to adapt to changing market conditions to remain competitive.

Industry Innovations for NAICS Code 523940-01

Recent groundbreaking advancements and milestones in the Investment Management industry, reflecting notable innovations that have reshaped its landscape.

  • Robo-Advisors: Robo-advisors are automated investment platforms that use algorithms to provide investment advice and portfolio management services to clients. They have become increasingly popular in recent years due to their low fees and ease of use.
  • Environmental, Social, and Governance (ESG) Investing: ESG investing is an investment approach that considers environmental, social, and governance factors in addition to financial factors when making investment decisions. This approach has become increasingly popular in recent years as investors have become more interested in investing in companies that align with their values.
  • Artificial Intelligence (AI): AI is being used in the investment management industry to analyze large amounts of data and identify investment opportunities. This technology has the potential to improve investment decision-making and increase efficiency.
  • Exchange-Traded Funds (Etfs): ETFs are investment funds that are traded on stock exchanges like individual stocks. They have become increasingly popular in recent years due to their low fees and flexibility.
  • Impact Investing: Impact investing is an investment approach that seeks to generate a positive social or environmental impact in addition to financial returns. This approach has become increasingly popular in recent years as investors have become more interested in using their investments to make a positive difference in the world.

NAICS Code 523940-01 - Investment Management

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