Analysis
NAICS 523999 is the 2022 national industry for miscellaneous financial investment activities, part of 52399 (All Other Financial Investment Activities). Census lists 15 example activities under it in the official index.
Between 2018 and 2023 the number of establishments grew 95% and employment rose 56%. The 2018 count used NAICS 2017, so part of a large move can come from codes being redefined rather than from businesses opening or closing.
County Business Patterns counts 2,410 US establishments in this code in 2023, employing 27,385 people at an average annual payroll of $154,213 per employee (98th percentile of national industries). 85% of the establishments have fewer than five employees, which marks it as a small-business industry.
By establishments it ranks 2nd of the 2 codes at this level within All Other Financial Investment Activities, with 42.3% of them.
Census lists 7 related activities that belong elsewhere, most often in 5231, 523160, 523910 and 523210. Businesses that do several things are classified by their primary activity, the one that generates the most value, so check those boundaries before settling on this code.
Its index entries, the activities Census uses to assign businesses to this code, include business start-up fundraising using a crowdfunding platform, clearinghouses, commodity exchange or securities exchange, deposit brokers and exchange clearinghouses, commodities or securities, among 15 in all.
Official definition
This U.S. industry comprises establishments primarily engaged in acting as agents and/or brokers (except securities brokerages and commodity contracts brokerages) in buying or selling financial contracts and those providing financial investment services (except securities and commodity exchanges; portfolio management; investment advice; and trust, fiduciary, and custody services) on a fee or commission basis.
Illustrative Examples:
Exchange clearinghouses, commodities or securities Stock quotation services Gas lease brokers' offices
Source: US Census Bureau, NAICS 2022 Manual.
Not this code if…
| The business mainly does | Use instead |
|---|---|
| Investment banking, securities dealing, securities brokering, commodity contracts dealing, or commodity contracts brokering | 5231 Securities and Commodity Contracts Intermediation and Brokerage |
| Acting as principals or agents (i.e., brokers) in buying or selling virtual currency (cryptocurrency) | 523160 Commodity Contracts Intermediation |
| Acting as principals (except investment bankers, securities dealers, and commodity contracts dealers) in buying or selling financial contracts | 523910 Miscellaneous Intermediation |
| Furnishing physical or electronic marketplaces for the purpose of facilitating the buying and selling of securities and commodities | 523210 Securities and Commodity Exchanges |
| Managing the portfolio assets (i.e., funds) of others and/or providing customized investment advice | 523940 Portfolio Management and Investment Advice |
| Providing trust, fiduciary, and custody services to others | 523991 Trust, Fiduciary, and Custody Activities |
| Financial transactions processing, reserve, and clearinghouse activities (except commodity or securities exchange services) | 522320 Financial Transactions Processing, Reserve, and Clearinghouse Activities |
Index entries (15)
- Business start-up fundraising using a crowdfunding platform
- Clearinghouses, commodity exchange or securities exchange
- Deposit brokers
- Exchange clearinghouses, commodities or securities
- Gas lease brokers' offices
- Oil lease brokers' offices
- Protective committees, security holders
- Quotation services, securities
- Quotation services, stock
- Securities holders' protective services
- Securities transfer agencies
- Stock quotation services
- Stock transfer agencies
- Transfer agencies, securities
- Virtual currency trading exchange clearinghouses