For years, Muslims only invested in cash savings and real estates because many traditional investment vehicles were impermissible to those searching for Shariah-compliant opportunities. Traditional financial advisors seemed to target the wealthy investors, neglecting small investors who are seeking halal opportunities. To receive professional advice, clients would have to meet the advisor, define their goals, confirm, implement and review their plans. This traditional investment method requires more time, money and effort. Once they start investing, the only way clients can track their investments is by meeting with their financial advisors in a scheduled appointment.
In contrast, robo-advisors like Wahed Invest require fewer steps to make investments. All they need to do is sign up, fund and monitor the whole process from the comforts of their homes. With a minimum investment amount of $100, small investors are open to the same opportunities as big investors. Without paperwork and unnecessary steps, the money contributed is put to work immediately. Financial advisors tend to charge a higher annual service fee than the robo-advisors’ yearly fee.
Wahed Invest has provided and continues to provide a platform for investors who wish to invest without a hassle and conveniently from their mobile devices. It offers more advantages, all of which have helped in revolutionizing the halal investment space. Clients no longer need to be concerned about finding opportunities that are within their budget limit and that complements their religious values.