ShariaPortfolio
ShariaPortfolio is a Florida-based boutique asset manager founded in 2003 that provides Sharia-compliant wealth management, robo-advisory, 401(k), and ETF products for Muslim investors and institutions in the U.S. and Canada.
- Company typePrivate
- Founded2003
- HeadquartersLake Mary, United States
- Headcount—
- GTM typeB2B and B2C
- OfferingServices
What ShariaPortfolio does
ShariaPortfolio Inc. is a privately held, Florida-based boutique asset management firm founded in 2003 by Naushad Virji, specializing in Sharia-compliant (halal) investment management for Muslim investors in the United States. The firm operates under SEC investment advisor registration with a fiduciary standard and is registered in Lake Mary, FL; Aliredha Walji has served as CEO since January 1, 2022, with the founder focused on international expansion via sister company ShariaPortfolio Canada.
The company delivers a suite of four core products: Access (full-service wealth management with licensed advisors), Express (a Sharia-compliant robo-advisor for economical halal investing), 401(k) (employer-sponsored halal retirement plans), and Institutional (co-managed Sharia-compliant portfolios for RIAs and endowments). Supporting tools include a Zakat Calculator. ShariaPortfolio is affiliated with SP Funds, which offers what the company describes as North America's largest family of Sharia-compliant ETFs, plus private funds for institutional and accredited investors. The proprietary Sharia screening methodology is built on AAOIFI scholarly guidelines, emphasizing debt-ratio screening, exclusion of alcohol/gambling/tobacco/weapons/pork sectors, and annual revenue purification calculations for charitable donations on any impermissible income exposure.
The business model is recurring, fee-based revenue via advisory and AUM-based fees rather than commissions. Distribution combines direct advisory sales, a self-serve digital channel (Express), an institutional advisor-on-advisor channel, and employer 401(k) plan sales. Customer segments include individual Muslim investors (primary), small business owners, RIAs, and institutional/endowment clients. The go-to-market emphasizes trust, fiduciary duty, religious credibility (Shaykh Umer Khan as Sharia Advisor since October 2022), and media positioning (Forbes, CNBC, Financial Times, Reuters, Newsweek 2025 Top Financial Advisory Firms).
ShariaPortfolio firmographics
Firmographics- Name
- ShariaPortfolio
- Legal name
- ShariaPortfolio Inc.
- Website
- https://shariaportfolio.com
- Company type
- Private
- Founded year
- 2003
- Operating status
- Operating
- Short description
- ShariaPortfolio is a Florida-based boutique asset manager founded in 2003 that provides Sharia-compliant wealth management, robo-advisory, 401(k), and ETF products for Muslim investors and institutions in the U.S. and Canada.
- Ownership category
- akta.pro rank
ShariaPortfolio industry classification
Industry- Product category
- Sharia-compliant wealth management
- NAICS
- Portfolio Management and Investment Advice (523940), Trust, Fiduciary, and Custody Activities (523991)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Islamic Private Banking & Wealth (FSABAGAD)
- akta.pro secondary industries
- Retirement & Distribution Planning RIAs (401(k)/IRA/Pension Rollovers) (FSAAACAE), Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions) (FSAAACAG)
Keywords
Where ShariaPortfolio is headquartered
LocationHeadquarters
- HQ city
- Lake Mary
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
ShariaPortfolio business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Advisory Fees: Fee-based advisory services where advisors are compensated via clearly disclosed fees rather than commissions. Fiduciary advisors legally obligated to put clients' financial interests above their own.
- Assets Under Management (AUM) Fees: Management fees based on percentage of assets under management for comprehensive wealth management and investment advisory services
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Fee-based fiduciary advisory model |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels5 records
ShariaPortfolio product offering
Product offeringCore offering
ShariaPortfolio is a boutique asset management firm that delivers Sharia-compliant (halal) wealth management and investment advisory services to individual investors, small businesses, and institutional clients. Core offerings include Access (full-service personal wealth management), Express (a digital Sharia-compliant robo-advisor), Sharia-compliant 401(k) retirement plans, and Institutional services for investment advisors, supported by Sharia screening aligned with AAOIFI scholarly guidelines and annual purification calculations for impermissible income.
Product overview
ShariaPortfolio is a boutique asset management firm offering a suite of wealth management products for halal investing. The core offerings include Access (comprehensive personal wealth management), Express (a digital robo-advisor), 401(k) retirement plans, and Institutional services for financial advisors. Supporting tools include a Zakat Calculator. The company is affiliated with SP Funds, which offers Sharia-compliant ETFs and private funds. The products work together to provide a full range of investment solutions for individual, business, and institutional clients seeking to align their finances with Islamic principles.
Differentiator
Problem solved
Functional benefit
Brands
- SP Funds: Affiliated company offering Sharia-compliant ETFs, described as North America's largest family of Sharia-compliant ETFs
Products and services
- Access Comprehensive, full-service personal wealth management offering financial advisory, portfolio management, and investment planning tailored to halal investing. Designed for individual Muslim investors and households seeking personalized, fiduciary wealth management.
- Express A Sharia-compliant robo-advisor service providing automated, digital investment management with online onboarding and portfolio management. Targeted at self-directed individual investors seeking an economical halal investing solution.
- Sharia-compliant 401(k) Retirement Plan An employer-sponsored 401(k) retirement plan that allows businesses to offer halal retirement investment options to their employees. Targeted at small and mid-sized business owners seeking Sharia-compliant retirement benefits.
- Institutional An institutional service enabling registered investment advisors to offer Sharia-compliant portfolio options to their clients, including co-managed accounts and endowment management. Targeted at RIAs and institutional investors seeking halal sub-advisory or co-managed solutions.
Quantifiable outcome
- Sharia-compliant indices (S&P Dow Jones) generated better performance metrics compared to non-Islamic indexes after 2008 financial crisis
- +2 more outcomes
Companies that use ShariaPortfolio
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles4 records
ShariaPortfolio technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
ShariaPortfolio partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- Shaykh Umer KhancoreSharia Advisor with extensive expertise in Finance, investing, and Islamic law and ethics. Works on developing concrete framework for Sharia screening, reviewing operations and portfolios for better AAOIFI guideline alignment.
- SP FundscoreAffiliated company that is home to North America's largest family of Sharia-compliant ETFs. Provides ETF investment products complementary to ShariaPortfolio's wealth management services.
- ShariaPortfolio CanadacoreSister company offering professional Sharia-compliant investment services in Canada and many countries around the world, expanding international footprint of the ShariaPortfolio brand.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
ShariaPortfolio competitors and assessment
Company assessmentDirect peers
- Wahed Invest: Digital halal investment platform offering robo-advisory and managed portfolios to Muslim investors globally. Directly competes with ShariaPortfolio's Express service and targets the same Sharia-compliant investor base with a mobile-first, lower-fee model.
- Sarwa: UAE-headquartered robo-advisor offering Sharia-compliant portfolio options alongside conventional portfolios. Competes with ShariaPortfolio for digitally-engaged Muslim investors, particularly in MENA, and overlaps with ShariaPortfolio's Express and Access offerings.
- SP Funds: Affiliated entity offering North America's largest family of Sharia-compliant ETFs and private funds. Closely comparable to ShariaPortfolio because it shares brand and ownership lineage while distributing halal investment products to retail and institutional investors.
Broad incumbents
- Saturna Capital (Amana Funds): Established U.S. asset manager of the Amana Mutual Funds family, one of the largest and longest-running Sharia-compliant mutual fund complexes in North America. Comparable to ShariaPortfolio as a halal investment provider, but operates as a larger incumbent focused on mutual funds rather than personalized wealth management.
- Guidance Residential: Large U.S. Sharia-compliant home financing provider that has expanded into broader Islamic financial services. Comparable to ShariaPortfolio as a values-aligned Islamic financial services firm targeting Muslim American consumers, though anchored in mortgage finance rather than investment management.
- Charles Schwab: Major U.S. brokerage and RIA custodian that ShariaPortfolio uses for custody (visible from Schwab login link). Comparable as a wealth management infrastructure provider and competitor for advisory assets, though not Sharia-specialized.
- Bank of America (Merrill) — Merrill Lynch Wealth Management: Large incumbent wealth manager serving high-net-worth and mass-affluent clients with comprehensive advisory services. Comparable to ShariaPortfolio on the Access-style comprehensive wealth management model, but with vastly broader scale and no Sharia specialization.
Emerging players
- Wealthsimple: Canadian digital wealth manager offering diversified portfolios and themed/SRI options, with growing halal/Islamic portfolio availability. Compares to ShariaPortfolio's Express robo-advisor and ShariaPortfolio Canada via similar digital onboarding and low-fee structure.
- Betterment: U.S. robo-advisor with broad portfolio offerings and tax-advantaged account types (IRA, 401(k)). Compares to ShariaPortfolio's Express service and 401(k) offering on technology-driven, low-touch wealth management, though Betterment does not offer Sharia-compliant portfolios.
- Innovative Housing Opportunities (Islamic Finance-adjacent) / Islamicly: Sharia stock-screening and investment analysis app aimed at Muslim retail investors. Comparable to ShariaPortfolio on the screening and education layer of halal investing, though it does not manage portfolios or provide full wealth advisory services.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
ShariaPortfolio social profiles
Digital presenceShariaPortfolio compliance and trust
Trust signalCompliance2 records
ShariaPortfolio financial estimates
Financial estimateRevenue estimate
Valuation estimate
ShariaPortfolio leadership team
Management profileNumber of profiles
Profiles6 records
ShariaPortfolio funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ShariaPortfolio M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ShariaPortfolio
What does ShariaPortfolio do?
ShariaPortfolio is a boutique asset management firm that delivers Sharia-compliant (halal) wealth management and investment advisory services to individual investors, small businesses, and institutional clients. Core offerings include Access (full-service personal wealth management), Express (a digital Sharia-compliant robo-advisor), Sharia-compliant 401(k) retirement plans, and Institutional services for investment advisors, supported by Sharia screening aligned with AAOIFI scholarly guidelines and annual purification calculations for impermissible income.
Is ShariaPortfolio a public or private company?
ShariaPortfolio is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was ShariaPortfolio founded?
ShariaPortfolio was founded in 2003.
Where is ShariaPortfolio based?
ShariaPortfolio is headquartered in Lake Mary, United States, in the North America region.
How does ShariaPortfolio make money?
Two revenue lines are on record. Advisory Fees are the primary driver. The others are assets Under Management (AUM) Fees.
Who are ShariaPortfolio's main competitors?
Direct peers on record are Wahed Invest, Sarwa and SP Funds. Broad incumbents are Saturna Capital (Amana Funds), Guidance Residential, Charles Schwab and Bank of America (Merrill) — Merrill Lynch Wealth Management. Emerging players are Wealthsimple, Betterment and Innovative Housing Opportunities (Islamic Finance-adjacent) / Islamicly.
Does ShariaPortfolio have an API?
No public API is recorded for ShariaPortfolio.
What industry is ShariaPortfolio in?
ShariaPortfolio's product category is Sharia-compliant wealth management. Its primary akta.pro industry code is FSABAGAD, Islamic Private Banking & Wealth, with a secondary code of FSAAACAE, Retirement & Distribution Planning RIAs (401(k)/IRA/Pension Rollovers). Its NAICS code is 523940 and its SIC code is 6282.