Azzad Asset Management Azzad Wealth Management

Halal Investing in South Dakota

Azzad Asset Management is a fee-only, faith-based SEC-registered investment adviser founded in 1997 in Falls Church, Virginia, managing about $1.8B (company-reported, 12/31/2025) for roughly 1,500 households. Its Ethical Wrap Program delivers halal wealth management through separately managed accounts with direct stock ownership - nine model portfolios run by institutional managers including Kayne Anderson Rudnick, D.F. Dent, SKBA, and Tributary, plus in-house strategies - wrapped with financial planning, zakah and purification accounting, and shareholder advocacy. Custody sits at Goldman Sachs, Fidelity, or Schwab.

Azzad is what a mature halal RIA looks like: nearly three decades of operation, AAOIFI-based screens run through proprietary software, a named three-scholar Shariah Advisory Board, and - uniquely among US Islamic advisers - annual external sharia audits by IFAAS since 2015. The wealth-management proposition is genuinely full-service, down to annual zakah statements calculated on 23 Sha'ban and shareholder advocacy with a real record (Chevron's Myanmar exit among its engagements). The economics are the filter: $500,000 to enter the wrap program, a fee starting near 1% that the website does not publish, and underlying manager costs on top. For affluent families who want compliance handled to an auditable standard rather than an app, Azzad is arguably the deepest option in the country; cost-sensitive index investors should look at halal ETFs instead.