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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.

Hierarchy Navigation for NAICS Code 523940-14


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

Certifications, Compliance and Licenses for NAICS Code 523940-14 - Retirement Income Funds

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

  • Certified Retirement Counselor (CRC): A certification provided by the International Foundation for Retirement Education (InFRE) that demonstrates expertise in retirement planning, income management, and retirement plan administration. The certification requires passing an exam and completing continuing education credits.
  • Chartered Retirement Planning Counselor (CRPC): A certification provided by the College for Financial Planning that focuses on retirement planning, including income management, asset allocation, and estate planning. The certification requires passing an exam and completing continuing education credits.
  • Certified Financial Planner (CFP): A certification provided by the Certified Financial Planner Board of Standards that covers a broad range of financial planning topics, including retirement planning, investment management, and estate planning. The certification requires passing an exam, completing experience requirements, and adhering to ethical standards.
  • Series 65: A license required by the US Securities and Exchange Commission (SEC) for individuals who provide investment advice or manage investment portfolios for a fee. The license requires passing an exam and registering with the appropriate regulatory authorities.
  • Investment Adviser Representative (IAR): A registration required by the US Securities and Exchange Commission (SEC) or state regulatory authorities for individuals who provide investment advice or manage investment portfolios for a fee. The registration requires passing an exam and meeting certain experience and education requirements.


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.

Future Outlook for Retirement Income Funds

The anticipated future trajectory of the NAICS 523940-14 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

  • Growth Prediction: Growing

    The future outlook for the Retirement Income Funds industry in the USA is positive. The industry is expected to grow due to the aging population and the increasing need for retirement income. The industry is also expected to benefit from the growing demand for passive investment strategies. However, the industry may face challenges due to the increasing competition from other investment vehicles and the changing regulatory environment. Overall, the industry is expected to continue to grow in the coming years.

Industry Innovations for NAICS Code 523940-14

Recent groundbreaking advancements and milestones in the Retirement Income Funds industry, reflecting notable innovations that have reshaped its landscape.

  • The introduction of target-date funds that automatically adjust the asset allocation based on the investor's age and retirement date.
  • The use of artificial intelligence and machine learning to improve investment decision-making and risk management.
  • The development of low-cost index funds that provide exposure to a broad range of asset classes.
  • The launch of socially responsible retirement income funds that invest in companies with strong environmental, social, and governance (ESG) practices.
  • The introduction of retirement income funds that provide guaranteed income for life, helping retirees manage longevity risk.

NAICS Code 523940-14 - Retirement Income Funds

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