ShariaPortfolio

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).

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

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

• Sharia-compliant wealth management
• Halal investment advisory
• Islamic retirement planning
• Sharia-screened portfolio management
• Ethical robo-advisor services

Headquarters

HQ city

Lake Mary

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. 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.
2. Assets Under Management (AUM) Fees: Management fees based on percentage of assets under management for comprehensive wealth management and investment advisory services

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core 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

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• Shaykh Umer KhancoreStrategic or Co-development Partner · 1 October 2022Sharia 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 FundscoreOthersAffiliated 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 CanadacoreOthersSister 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

Direct 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

• Xx.com/ShariaPortfolio
• YouTubeyoutube.com/channel/UCMW-5k8jz3s_SAGhfYlovfg
• Facebookfacebook.com/shariaportfolio
• LinkedInlinkedin.com/company/shariaportfolio
• Instagraminstagram.com/shariaportfolio

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ShariaPortfolio