Frequently Asked Questions
These are some of the most frequently asked questions.
We partner with our clients in many ways through financial planning that addresses their total wealth picture. From cash flow planning to tax strategy, Shariah-compliant investment management, estate planning strategies, and more, we help each of our clients answer questions in all aspects of their financial lives.
We walk alongside our clients in lifelong relationships, guiding them to navigate everything from career changes to wealth-planning events like inheritance, growing their family, and retiring. Our goal is to create an all-inclusive experience so that our clients can spend less time worrying about their money, and more time investing their energy in the people and activities they love most.
Yes, Azzad has a three-level compliance system as required by the the Accounting and Auditing Organization for Islamic Financial Institutions.
Halal investing is an investing strategy that complies with Islamic investing guidelines. Sacred law states that you can’t invest in specific industries (such as alcohol, gambling, weapons manufacturing, etc.). Those leveraging a Halal investing strategy also can’t profit off of the interest earned by the repayment of debt (riba), or take on speculative risk. We also prioritize charitable giving in our strategies, in alignment with Halal tenets.
Our clients are often Muslim physicians and their families. However, we support clients from all walks of life and at all career stages. Clients who work best with us are excited about having our team fully manage their financial lives, and are ready to delegate financial planning and investment management. They’re collaborative and want to be engaged in the process, but highly value their time and energy, and want to free themselves from the stress of managing it all themselves.
Yes, we are. We do not accept commissions on the sale of financial products, and the only fees we collect are based on a percentage of assets.
Our team is comprised of all-star players, and together they’ve continued their education to earn the following credentials individually:
- CFP®
- CSAA
- CRPC®
- CSRIC™
- PhD
We are fiduciaries. We are legally responsible for managing your money, for your benefit, not ours. We are not Registered Representatives (stockbrokers) and we will never chase performance or be market-timers.
We are proud to belong to the less than one-third of advisors who hold the CFP® professional certification. Our team of CFP® professionals help bring clarity to your financial life with our holistic approach that combines investments, tax planning, retirement planning and much more.
Our written mandate is to help you build, preserve, and protect your wealth within Islamic financial principles. Putting our Islamic financial process in writing means we are legally held accountable to it – by you, the regulators and the Almighty. We share your Islamic values and invest in the same portfolios we recommend to you.
Our planning advice revolves around Islamic values. Whether it’s estate planning, charitable planning or even asset protection, you can have peace of mind knowing we won’t get you in trouble.
Schedule your complimentary discovery meeting, if you think our expertise could be a fit for your needs.
Our clients are busy, successful professionals who are diligent savers. Above all else, they are committed to Islamic financial principles. They value expert financial guidance to help them make strategic decisions with their money. They are purpose-driven investors who share our belief that, with wealth, comes great responsibility. They are willing to engage in the planning process and trust our advice.
Yes! We currently help approximately 800 families across 30 states save for retirement, keep their lifetime tax liabilities as low as possible with proactive tax planning, and invest according to Islamic principles. We use video conferencing software, Microsoft Teams, to meet with prospects and clients.
We are commission-free (fee-only). Our wealth management services are composed of two fees that are wrapped. For the investment management, you will pay a fee for the underlying managed accounts and/or mutual funds. For our planning services, our fee typically starts at 1% and declines as you increase your assets under management. Our transparent fees are located on your monthly statements.
If you’re a do-it-yourself investor, do not value planning expertise and refuse to engage our services, then we won’t be a good fit for you.
The onboarding process starts as soon as you sign our contract. It generally consists of three to four meetings over a 6-month period:
- The Beginning: we will gather your personal details and account statements. We will open relevant accounts and transfer outside assets. Once your assets are received, your advisor will begin crafting your investment proposal and strategy.
- Months 1-2: we will review your account’s investment allocations, rebalance, and identify any tax loss/gain harvesting opportunities.
- Months 3-4: This is typically our planning meeting. We will complete a financial planning document review requesting tax returns, confirming beneficiaries on accounts, obtaining your CPA/accountant’s contact and authorization forms.
- Months 5-6: We will conduct your holistic financial planning review, making sure we capture your purpose and goals and give you a tour of the client portal.
Our ongoing planning services are communicated to you by email throughout the year. We will also reach out to you bi-annually to schedule your planning review meetings.
We use three third-party custodians, Goldman Sachs (previously Foliofn Investments), Fidelity Investments and Charles Schwab. You can view your accounts at any time through the broker’s website. You will also be given access to a client portal where you can see your financial plan, performance and have access to important documents.
We take a team approach at Azzad. You’ll be assigned a lead advisor you’re comfortable with as your primary point of contact. You will also interact with other planning associates and team members along the way. You’ll have access to our team’s scheduling software so you can schedule consultations or meetings with them.
Our wealth management service is best for clients with at least $500,000 investable assets (not including real estate), incomes of $250,000 and having a certain level of financial complexity. If that doesn’t sound like you, we invite you to learn more about our Azzad halal mutual funds.
