Trust, Fiduciary, & Custody Activities
Key Figures
Figures are published for NAICS 523991 directly.
Secure payments powered by Stripe, a PCI DSS Level 1 certified provider
Official definition
This U.S. industry comprises establishments primarily engaged in providing trust, fiduciary, and custody services to others, as instructed, on a fee or contract basis, such as bank trust offices and escrow agencies (except real estate).
Source: US Census Bureau, 2017 NAICS Definitions. Public domain.
Which code does this activity belong in?
Code 523991 covers establishments that manage trust, fiduciary, and custody services as their primary function, holding assets and making decisions on behalf of clients according to their instructions. The boundary with Miscellaneous Financial Investment Activities lies in the nature of the service: trust and fiduciary establishments actively administer assets and make discretionary decisions within their fiduciary role, whereas other financial investment service providers act as agents or brokers in buying and selling financial contracts without assuming fiduciary responsibility for client assets.