For anyone who wants to start investing for the first time or switch from an old-school system to a roboadvisor, there are a lot of options out there.
Betterment, Wealthfront, and smart advisors from major banks all let consumers become serious investors and save for retirement without requiring as much money or time as personal financial advisors. But a major group of investors hasn’t been served by these options.
Wahed Invest wants to be the first roboadvisor to allow American Muslim investors to go digital and at the same time meet Sharia standards for investing.
“While online investing may seem unorthodox to some Muslims across the globe, Muslim millennials in the U.S. have been interested in digital investment services and computer-generated, wealth management advice for some time,” said Wahed CEO Junaid Wahedna in a press release. “To date, they have been forced to use online investment platforms that don’t mirror their beliefs. Wahed offers them a solution to invest online in a way that is both sophisticated and true to their values.” Read more…