# NAICS 523940: Portfolio Management and Investment Advice

The SBA size standard for NAICS 523940 is $47,000,000 in average annual receipts (13 CFR 121.201).

| Field | Value |
| --- | --- |
| Code | 523940 |
| Title | Portfolio Management and Investment Advice |
| Level | 6 |
| Parent | 52394 |
| Size standard | $47,000,000 in average annual receipts |
| Footnote | - |

## 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.

## Sources

- Census NAICS: https://www.census.gov/naics/
- SBA size standards: https://www.sba.gov/document/support-table-size-standards

## API and MCP

- REST: GET https://samgovapi.io/api/v1/naics/523940/size-standard?revenue_usd=...
- MCP tools: naics_lookup, size_standard_check

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