NAICS 523150:
Investment Banking and Securities Intermediation
This industry comprises establishments primarily engaged in underwriting, originating, and/or maintaining markets for issues of securities, or acting as agents (i.e., brokers) between buyers and sellers in buying or selling securities on a commission or transaction fee basis. Investment bankers act as principals (i.e., investors who buy or sell on their own account) in firm commitment transactions or act as agents in best effort and standby commitments. This industry also includes establishments acting as principals in buying or selling securities generally on a spread basis, such as securities dealers or stock option dealers.
Bond dealing (i.e., acting as a principal in dealing securities to investors)Mutual fund agencies (i.e., brokerages)Securities brokerages+3 examples
Matching SIC code: 6211 Security Brokers, Dealers, and Flotation Companies
Where it sits
- 52Finance and InsuranceSector
- 523Securities, Commodity Contracts, and Other Financial Investments and Related ActivitiesSubsector
- 5231Securities and Commodity Contracts Intermediation and BrokerageIndustry group
- 52315Investment Banking and Securities IntermediationNAICS industry
- 523150Investment Banking and Securities IntermediationNational industry
Largest companies with NAICS 523150
Updated Nov 9, 2026| Rank | Company | Headquarters | Employees |
|---|---|---|---|
| 1 |  Morgan Stanleymorganstanley.com | New York, US | 102K |
| 2 |  Goldman Sachsgoldmansachs.com | New York, US | 67K |
| 3 |  Charles Schwabschwab.com | Roanoke, US | 35K |
| 4 |  Raymond Jamesraymondjames.com | St. Petersburg, US | 20K |
| 5 |  Barclays Investment Bankib.barclays | New York, US | 19K |
| 6 |  LPL Financiallpl.com | San Diego, US | 15K |
| 7 |  E*TRADE from Morgan Stanleyetrade.com | US | 9.1K |
| 8 |  Jefferiesjefferies.com | New York, US | 8.5K |
| 9 |  Stifel Financial Corp.stifel.com | St. Louis, US | 7.5K |
| 10 |  StoneX Group Inc.stonex.com | New York, US | 6K |
Not this code?
Similar activities the Census classifies elsewhere.
- 5221Depository Credit IntermediationEstablishments primarily engaged in accepting deposits and lending funds from these deposits
Questions about NAICS 523150
Which businesses use NAICS 523150?
What SIC code matches NAICS 523150?
How many companies have NAICS 523150?
Code titles, definitions, examples and SIC matches: NAICS 2022 and the Census concordances, US Census Bureau. Company counts and lists: Crustdata, companies with a website, each by its primary code, updated weekly. Employee counts are estimates.