Investing · ShariaPortfolio
ShariaPortfolio Institutional
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 Institutional is the advisor-facing arm of the Florida halal specialist: financial advisors, plan sponsors, and institutions plug ShariaPortfolio's AAOIFI-screened product menu into their own client relationships. Partner advisors retain their clients and share up to 50% of the advisory fees ShariaPortfolio collects; the firm also serves as investment sub-adviser to registered funds, including SP Funds ETFs alongside Toroso and Exponential ETFs, and supports ERISA plans as a limited-scope 3(21) co-fiduciary. Quarterly compliance rebalancing and per-fund Certificates of Sharia Accreditation cover the underlying products.
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What is the ShariaPortfolio Institutional?
ShariaPortfolio Institutional is the advisor-facing arm of the Florida halal specialist: financial advisors, plan sponsors, and institutions plug ShariaPortfolio's AAOIFI-screened product menu into their own client relationships.
- 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
- Program type
- Investment Platform
- Screening method
- AAOIFI standards
- Focus
- Institutional Halal Portfolios
- Account types
- Individual, IRA, Roth IRA
- 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
Institutional is infrastructure, and by halal-industry standards it is proven infrastructure: the same firm sub-advises the SP Funds ETF family, runs AAOIFI screens with a stricter-than-average exclusion list, and documents compliance in per-fund certificates and auditor reports. For a conventional advisor with Muslim clients, the up-to-50% fee share plus turnkey portfolios makes offering halal service straightforward instead of a research project. The caveats mirror the retail tiers: pricing is bespoke and unpublished, and the sharia function concentrates in one named advisor. End clients should also understand the fee stack - their advisor's fee sits on top of ShariaPortfolio's - and ask for the combined number. As distribution plumbing for halal investing across the US advisory industry, though, nothing else operates at this scale.
Strengths
- Lets financial advisors offer Sharia-compliant portfolios without building screening infrastructure
- Revenue sharing up to 50% of advisory fees makes partnering economically viable
- Proven sub-advisory record on the SP Funds ETF family ($3B+ group AUM, company-reported)
- AAOIFI-aligned screening under a named Sharia advisor with per-fund certificates
Watch-outs
- Built for advisors and institutions - retail investors cannot use it directly
- Oversight rests on a named advisor rather than a formal multi-scholar board
- No published pricing; end-client costs depend on two stacked fee layers (partner advisor plus ShariaPortfolio)
Is the ShariaPortfolio Institutional halal?
ShariaPortfolio Institutional is the distribution layer of the firm's halal machinery: financial advisors keep their clients and plug into ShariaPortfolio's Sharia-compliant menu, with the firm sharing up to 50% of the advisory fees it collects with partner advisors. The compliance substance underneath is the same AAOIFI-based discipline applied across the firm - companies with more than 5% of income from prohibited sources excluded (including music, cinema, and broadcasting, a stricter screen than most), interest-bearing debt capped at 30-33% of market capitalization on a trailing 12-month average, no preferred shares or interest-paying securities, and quarterly rebalancing that removes holdings falling out of compliance. The firm also works the other direction institutionally: it sub-advises registered funds, most concretely the SP Funds Dow Jones Global Sukuk ETF, where Toroso Investments is the adviser and ShariaPortfolio serves as investment sub-adviser. Religious oversight is anchored by Shaykh Umer Khan - Sharia Advisor since October 2022, a mufti with ifta' from Darulifta Birmingham and a Wharton Master's in Finance - and each affiliated SP Funds ETF publishes a Certificate of Sharia Accreditation and a Sharia Auditor Report. The honest caveat for institutional buyers doing diligence: there is no standing multi-member Shariah supervisory board named anywhere in the group - governance is AAOIFI adherence plus a single named advisor plus per-fund certificates.
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
- Advisor partner program: partners retain clients and offer ShariaPortfolio's halal product menu
- ShariaPortfolio shares up to 50% of collected advisory fees with partner advisors
- Sub-advisory capability for registered funds - including the SP Funds Dow Jones Global Sukuk ETF alongside Toroso
- AAOIFI screening with quarterly rebalancing removal of non-compliant holdings
- Per-fund Certificates of Sharia Accreditation and Sharia Auditor Reports on the SP Funds ETFs
- Named Sharia Advisor (Shaykh Umer Khan) rather than a multi-member board - disclosed plainly
Cost and terms
No published rate card - economics are negotiated per partnership, with ShariaPortfolio sharing up to 50% of collected advisory fees with partner advisors (crawled 2026-08-05). End-client costs depend on the partnering advisor's own fee schedule layered on ShariaPortfolio's tiered asset-based fees per the Form CRS.
How it compares
Other investing providers we list in the U.S., ordered by HalalWallet Index grade.
| Product | Structure | Shariah oversight | Availability | Grade |
|---|---|---|---|---|
| ShariaPortfolio Institutional (this page) | Wealth Management | Named Scholar | all 50 states | — |
| Wahed Invest Robo-Advisor | Robo-Advisor | Third-Party Certified | all 50 states | B+ |
| Manzil Trading (Self-Directed Halal Stock Trading) | Self-directed brokerage with real-time AAOIFI screening (Zoya) | Formal Board | all 50 states | A |
| Musaffa Halal ETF Finder | ETF Screener | Formal Board | all 50 states | — |
| SPFunds SP Funds S&P World ETF | Index-based | Third-Party Certified | all 50 states | B |
Other ShariaPortfolio products
- 401(k)
Retirement · Wealth Management
- Zakat Calculator
Zakat Calculator · Wealth Management
- ShariaPortfolio Express
Investing · Wealth Management
- Wealth Management
Investing · Wealth Management
Where it's available
ShariaPortfolio lists the ShariaPortfolio Institutional 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 Institutional halal?
ShariaPortfolio Institutional is the distribution layer of the firm's halal machinery: financial advisors keep their clients and plug into ShariaPortfolio's Sharia-compliant menu, with the firm sharing up to 50% of the advisory fees it collects with partner advisors. 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 Institutional work?
ShariaPortfolio Institutional is the advisor-facing arm of the Florida halal specialist: financial advisors, plan sponsors, and institutions plug ShariaPortfolio's AAOIFI-screened product menu into their own client relationships.
What does the ShariaPortfolio Institutional cost?
No published rate card - economics are negotiated per partnership, with ShariaPortfolio sharing up to 50% of collected advisory fees with partner advisors (crawled 2026-08-05). End-client costs depend on the partnering advisor's own fee schedule layered on ShariaPortfolio's tiered asset-based fees per the Form CRS.
Where is the ShariaPortfolio Institutional 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 Institutional?
In the same category we also list Wahed Invest Robo-Advisor (HalalWallet Index B+), Manzil Trading (Self-Directed Halal Stock Trading) (HalalWallet Index A), Musaffa Halal ETF Finder. Compare every option side by side on our Halal Investing hub.
When was this ShariaPortfolio product information last verified?
HalalWallet last verified the ShariaPortfolio Institutional 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
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