NAICS Code 523940-14 - Retirement Income Funds

Marketing Level - NAICS 8-Digit

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NAICS CODE 523940-14
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NAICS Code 523940-14 Description (8-Digit)

Retirement Income Funds is a subdivision of the Portfolio Management and Investment Advice industry that specializes in managing investment portfolios for individuals who are retired or nearing retirement. The primary goal of Retirement Income Funds is to provide a steady stream of income to retirees while preserving their capital. This is achieved by investing in a diversified portfolio of assets such as stocks, bonds, and other securities that generate income. Retirement Income Funds typically work with clients to develop a customized investment strategy that takes into account their retirement goals, risk tolerance, and other factors. They then manage the portfolio on an ongoing basis, making adjustments as needed to ensure that the client's income needs are met.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 523940 page

Tools

Tools commonly used in the Retirement Income Funds industry for day-to-day tasks and operations.

  • Retirement income calculators
  • Asset allocation tools
  • Risk assessment tools
  • Portfolio management software
  • Investment research tools
  • Tax planning software
  • Estate planning software
  • Financial planning software
  • Performance tracking tools
  • Investment newsletters

Industry Examples of Retirement Income Funds

Common products and services typical of NAICS Code 523940-14, illustrating the main business activities and contributions to the market.

  • Retirement income planning
  • Income-focused investing
  • Asset allocation for retirees
  • Portfolio management for retirees
  • Retirement income funds
  • Income-generating investments
  • Fixed income investing
  • Annuity investing
  • Dividend investing
  • Bond investing

History

A concise historical narrative of NAICS Code 523940-14 covering global milestones and recent developments within the United States.

  • Retirement Income Funds have been around for decades, with the first mutual fund being established in the United States in 1924. However, it wasn't until the 1970s that the industry began to grow significantly, with the introduction of Individual Retirement Accounts (IRAs) and 401(k) plans. These retirement savings vehicles allowed individuals to invest in mutual funds and other securities on a tax-deferred basis, leading to a surge in demand for Retirement Income Funds. In recent years, the industry has continued to evolve, with the introduction of target-date funds and other innovative products designed to help retirees generate income in retirement. In the United States, the Retirement Income Funds industry has experienced steady growth over the past decade, driven by an aging population and increasing demand for retirement income solutions. According to a report by Cerulli Associates, Retirement Income Funds assets under management (AUM) grew from $200 billion in 2010 to $1.2 trillion in 2020. This growth has been fueled by a number of factors, including the shift from defined benefit to defined contribution plans, the increasing popularity of target-date funds, and the growing need for retirement income solutions in an era of low interest rates.