Activities of trust, estate and agency accounts

NACE v2.1 Code: L64.32

About activities of trust, estate and agency accounts

NACE code 64.32 covers the activities of trust, estate, and agency accounts. This industry plays a crucial role in the broader financial services sector, providing specialized services related to the management and administration of trusts, estates, and other fiduciary arrangements. These activities are essential for individuals, families, and organizations seeking to protect and manage their assets, plan for the future, and ensure the smooth transfer of wealth across generations.

Production process

The core activities within this industry involve the management and administration of trusts, estates, and agency accounts. This typically includes tasks such as the creation and management of trust agreements, the administration of estates and probate proceedings, the handling of investment portfolios, and the provision of financial planning and advisory services. Professionals in this industry, such as trust and estate lawyers, financial planners, and asset managers, utilize a range of specialized knowledge and skills to navigate the complex legal and financial requirements associated with these services.

Production inputs

The main inputs required for the activities covered by NACE code 64.32 include specialized legal and financial expertise, access to relevant legal and regulatory frameworks, and the ability to manage complex financial instruments and investment portfolios. Additionally, this industry relies on robust information technology systems, data management capabilities, and strong client relationships to deliver its services effectively.

Production outputs

The primary outputs of the activities covered by NACE code 64.32 are the management and administration of trusts, estates, and agency accounts. These services provide clients with the ability to protect and manage their assets, plan for the future, and ensure the smooth transfer of wealth across generations. The outputs of this industry are often consumed by 64.30 Activities of trusts, funds and similar financial entities, 66.19 Other activities auxiliary to financial services, except insurance and pension funding, and 69.10 Legal activities.

Revisions to 64.32

Classification codes are adjusted frequently. The code may have been revised or replaced between system versions. The table below shows the history (newest to oldest) of the code 64.32. The most recent 1 version of this code (64.32) is in the NACE v2.1 system (this version):

This page shows the most recent version of code 64.32.

Family tree for activities of trust, estate and agency accounts

    graph LR
    A["<a href='/classifications/nace/v2-1/L'>L: FINANCIAL AND INSURANCE ACTIVITIES</a>"]
A --> B["<a href='/classifications/nace/v2-1/L/64'>64: Financial service activities, except insurance and pension funding</a>"]
B --> C["<a href='/classifications/nace/v2-1/L/64/3'>64.3: Activities of trusts, funds and similar financial entities</a>"]
C --> D["<a href='/classifications/nace/v2-1/L/64/32'>64.32: Activities of trust, estate and agency accounts</a>"]

    C --> E["<a href='/classifications/nace/v2-1/L/64/31'>64.31: Activities of money market and non-money market investments funds</a>"]

    

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