Virginia-based registered investment advisor now ‘100% employee owned’
(Falls Church, VA, July 18, 2023) — Azzad Asset Management announced today that it has concluded an asset sale in which existing non-employee owners of the company agreed to sell and transfer all ownership interests in Azzad to key employees of Azzad. The transaction, which closed on May 31, 2023, makes the company 100% employee owned.
“We look forward to this new chapter in our company’s life,” said company founder and CEO Bashar Qasem. “This is an important milestone that positions Azzad for the future, allowing us to align interests and to place a laser focus on providing our clients with unparalleled halal financial planning and wealth management services.”
Employee ownership of a company confers multiple benefits, including increased engagement, talent retention, and greater employee motivation. Employee-owned companies also tend to have higher productivity levels and a higher capacity for innovation.
The change to complete employee-ownership does not affect the continued investment management of client accounts. In addition, Azzad’s entire professional staff will remain intact.
Azzad oversees 10 model portfolios and two mutual funds, all of which adhere to Azzad’s halal investment criteria.
About Azzad Asset Management
Azzad Asset Management provides investment management and financial planning services designed to help clients align their financial lives with their Islamic values. The firm is based in Falls Church, Virginia.
Contact: Azzad Investment Communications Director Joshua Brockwell, 703-207-7005, joshua@azzad.net; Azzad Chief Compliance Officer Manal Fouz, 703-207-7705.
