Retirement · ShariaPortfolio
ShariaPortfolio 401(k)
Co-Founder & CEO, HalalWallet
Facts are re-verified against ShariaPortfolio's published materials; this page updates when the provider's terms, rates, or coverage change.
ShariaPortfolio's 401(k) service brings AAOIFI-screened investing to the account where most American Muslims hold most of their wealth - the employer plan. Delivered turnkey with recordkeeping partner ePlan, a conventional plan can start conversion online in about 15 minutes, with roughly two months end to end. ShariaPortfolio serves as a limited-scope 3(21) co-fiduciary advising on menu design, screening excludes preferred shares, interest-paying securities, and companies failing AAOIFI ratios (including the firm's stricter music/cinema/broadcasting exclusion), and non-compliant holdings are removed at quarterly rebalancing. Standard tax deferral and employer matching stay intact.
Opens provider's site - no obligation
HalalWallet is an independent, education-only comparison site. Some outbound links earn referral fees.Advertiser disclosure
Important: HalalWallet is not a lender, mortgage broker, loan originator, or settlement agent. We are an educational comparison site and do not originate applications on your behalf.
Items marked “Featured” may include paid placement in that module. Where you control sort order (tables, filters), your selection applies.
Referral fees typically come from the provider's marketing budget and should not increase what you pay - you should receive the same terms as visiting providers directly; confirm with the provider. How we make money · Methodology · Legal disclosures
What is the ShariaPortfolio 401(k)?
ShariaPortfolio's 401(k) service brings AAOIFI-screened investing to the account where most American Muslims hold most of their wealth - the employer plan. Delivered turnkey with recordkeeping partner ePlan, a conventional plan can start conversion online in about 15 minutes, with roughly two months end to end.
- Contract structure: Wealth Management.
- Available in all 50 states.
- Shariah oversight disclosed: Named Scholar.
- Verified against ShariaPortfolio's published materials on 2026-08-05.
Source: HalalWallet (halalwallet.us)
Key facts
- Structure
- Wealth Management
- Availability
- all 50 states
- Shariah oversight
- Named Scholar
- Provider founded
- 2013
- Last verified
- 2026-08-05
Facts are taken from ShariaPortfolio's published product materials and were last verified on 2026-08-05. Fields the provider does not publish are omitted rather than estimated.
Our take
The 401(k) is where halal investing usually breaks down - most plan menus offer nothing compliant, so observant employees either compromise or forfeit the match - and ShariaPortfolio's ePlan partnership is one of the few turnkey fixes in the market. The mechanics are sensible: the firm takes a limited 3(21) co-fiduciary role on menu design rather than full discretion, screening runs to AAOIFI standards with quarterly compliance rebalancing, and the tax machinery (deferral, matching) is untouched. The two-month conversion claim is realistic for small and mid-size plans. Unknowns to nail down before signing: total plan cost, which is quoted rather than published, and per-participant fees. For employees, the practical move is often to champion this internally - the alternative, a self-directed brokerage window, works but puts the compliance burden back on each individual.
Strengths
- Brings AAOIFI-aligned Shariah screening to employer-sponsored 401(k) plans
- Retains 401(k) tax benefits and potential employer matching
- Named Sharia advisor (Shaykh Umer Khan) oversees the methodology
- Available nationwide in all 50 states
Watch-outs
- Requires your employer to adopt the plan - individuals cannot enroll on their own
- No published pricing for sponsors or participants - budgeting requires a quote
- Oversight rests on a named advisor (Shaykh Umer Khan) rather than a formal multi-scholar board
Is the ShariaPortfolio 401(k) halal?
ShariaPortfolio's 401(k) product exists because the standard plan menu is where most American Muslims quietly compromise: it swaps the usual fund lineup for halal mutual funds while keeping the tax benefits and employer match intact. The underlying discipline is AAOIFI-based: companies earning more than 5% of income from prohibited sources are excluded - and ShariaPortfolio's exclusion list includes music, cinema, and broadcasting, a stricter entertainment screen than most competitors apply - while interest-bearing debt is capped at 30-33% of market capitalization on a trailing 12-month average. Preferred shares and interest-paying securities are ineligible outright, and holdings that drift out of compliance are removed at the next quarterly rebalancing, with interim action reserved for material breaches. Religious oversight rests with Shaykh Umer Khan, Sharia Advisor since October 2022 - a mufti (ifta' from Darulifta Birmingham) who also holds a Master's in Finance from Wharton - whose stated mandate is tightening the firm's screening framework against AAOIFI guidelines. Plan mechanics run through recordkeeping partner ePlan, with ShariaPortfolio serving as a limited-scope 3(21) co-fiduciary: it advises on the investment menu and fiduciary governance but explicitly does not take discretion. The honest caveat applies firm-wide: no standing multi-member Shariah supervisory board is named - oversight is AAOIFI rules, one credentialed advisor, and per-fund certificates on the affiliated SP Funds ETFs.
Shariah oversight disclosed by ShariaPortfolio
Sharia Advisor: Shaykh Umer Khan. AAOIFI-aligned screening methodology used.
HalalWallet reports the Shariah documentation a provider publishes. We do not issue certifications; consult a qualified scholar for a personal ruling.
What you get
- Turnkey halal 401(k) with recordkeeping through partner ePlan; 15-minute online conversion, roughly two months end to end
- ShariaPortfolio acts as limited-scope 3(21) co-fiduciary - advice on menu design, no discretion taken
- AAOIFI screening including the stricter music/cinema/broadcasting exclusion; no preferred shares or interest-paying securities
- Non-compliant holdings removed at quarterly rebalancing, with interim action for material breaches
- Named Sharia Advisor (Shaykh Umer Khan - mufti with a Wharton Master's in Finance) since October 2022
- Keeps standard 401(k) tax deferral and employer matching intact
Cost and terms
No published plan pricing - sponsor costs (recordkeeping via ePlan, advisory fees per ShariaPortfolio's tiered schedule) are quoted per plan and not listed on the service page (crawled 2026-08-05). Employee-side costs depend on the fund lineup the sponsor adopts. Confirm total plan cost and per-participant fees with the firm before conversion.
How it compares
Other retirement providers we list in the U.S., ordered by HalalWallet Index grade.
| Product | Structure | Shariah oversight | Availability | Grade |
|---|---|---|---|---|
| ShariaPortfolio 401(k) (this page) | Wealth Management | Named Scholar | all 50 states | — |
| Wahed Invest Roth IRA | Robo-Advisor | Third-Party Certified | all 50 states | B+ |
Other ShariaPortfolio products
- Zakat Calculator
Zakat Calculator · Wealth Management
- ShariaPortfolio Express
Investing · Wealth Management
- ShariaPortfolio Institutional
Investing · Wealth Management
- Wealth Management
Investing · Wealth Management
Where it's available
ShariaPortfolio lists the 401(k) as available in all 50 states.
Availability may vary by product and can change; verify with ShariaPortfolio before applying.
Frequently asked questions
Is the ShariaPortfolio 401(k) halal?
ShariaPortfolio's 401(k) product exists because the standard plan menu is where most American Muslims quietly compromise: it swaps the usual fund lineup for halal mutual funds while keeping the tax benefits and employer match intact. Contract structure: Wealth Management. Shariah oversight disclosed by ShariaPortfolio: Named Scholar. HalalWallet reports what the provider documents; we do not certify products.
How does the ShariaPortfolio 401(k) work?
ShariaPortfolio's 401(k) service brings AAOIFI-screened investing to the account where most American Muslims hold most of their wealth - the employer plan. Delivered turnkey with recordkeeping partner ePlan, a conventional plan can start conversion online in about 15 minutes, with roughly two months end to end.
What does the ShariaPortfolio 401(k) cost?
No published plan pricing - sponsor costs (recordkeeping via ePlan, advisory fees per ShariaPortfolio's tiered schedule) are quoted per plan and not listed on the service page (crawled 2026-08-05). Employee-side costs depend on the fund lineup the sponsor adopts. Confirm total plan cost and per-participant fees with the firm before conversion.
Where is the ShariaPortfolio 401(k) available?
ShariaPortfolio lists this product as available in all 50 states. Availability can change and may differ by state; verify directly with ShariaPortfolio.
What are the alternatives to the ShariaPortfolio 401(k)?
In the same category we also list Wahed Invest Roth IRA (HalalWallet Index B+). Compare every option side by side on our Halal Retirement Accounts hub.
When was this ShariaPortfolio product information last verified?
HalalWallet last verified the ShariaPortfolio 401(k) details against ShariaPortfolio's published materials on 2026-08-05. Rates, fees, and availability can change after that date.
How to use this comparison: HalalWallet is an independent educational comparison platform - by design, we do not provide financial, legal, or religious advice. We do the research homework so your final checks are quick and personal.
Product structures and Shariah oversight vary by provider, so finish with three built-in steps:
- Confirm current terms and halal compliance directly with the provider - their quote is final.
- Review the contract structure (Murabaha, Ijara, Musharakah, etc.) and any disclosed Shariah board opinions.
- Bring your shortlist to a qualified Islamic finance advisor or scholar, so the conversation is about your situation, not the basics.
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-08-05
How to cite this page
Preferred format (HTML):
For time-sensitive claims (rates, fees, state availability), please verify directly with the provider's official documentation and note the retrieval date.