Shariaportfolio, Inc. (Lake Mary)

Name: Shariaportfolio, Inc.
Address: 1331 S. International Parkway, Lake Mary, FL, 32746
Telephone: 321-275-5125

Shariaportfolio, Inc. is a multi-state adviser based in Lake Mary. It manages $68.7 million of regulatory assets for 720 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of Arizona, California, Florida, and 16 other states.

Shariaportfolio provides portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, and educational seminars and workshops. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Shariaportfolio: assets under management

The assets under management (AUM) of Shariaportfolio, Inc. is $68.7 million. The firm's AUM has grown by 267% since the beginning of its operation, and $2.37 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $56.33 million in discretionary accounts and $12.38 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $85.73 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $196.48 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 41% of the total AUM. The second-largest asset type is exchange traded securities, which make up 36% of the firm’s portfolio. Investments in cash and cash equivalents form 23% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Shariaportfolio, Inc. for their services and products based on a percentage of assets under management and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Shariaportfolio serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, and pooled investment vehicles. The largest group of clients of Shariaportfolio is individuals with 327 clients and $41.33 million of assets under management. Among the 8 most similar advisory firms, Shariaportfolio has the 2nd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $68.7 million for 350 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Shariaportfolio also advises several private funds. Namely, one real estate fund. The minimum investment commitment required of non-related persons is $50,000 for each fund.

Careers at Shariaportfolio, Inc.

The company employs 11 people that are either part- or full-time employees. 55 percent of the employees work as investment advisers or researchers. 2 employees are registered as investment adviser representatives with the state securities authorities.

There are 4 people with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Shariaportfolio, Inc. is owned by Syed Khalid Lateef. Aliredha Munir Walji joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Naushad Virji	President & chief compliance officer	1 Oct 2014	50% - 75%	5027106
Wasia Sheikh	Shareholder	1 Oct 2014	25% - 50%	6422969
Syed Khalid Lateef	Owner	1 Jan 2018	Other	6933175
Perwaize Ahmed	Owner	1 Jan 2018	Other	6933176
Aliredha Munir Walji	Chief compliance officer	1 Mar 2019	Other	6531250

Based in Lake Mary

The principal office where Shariaportfolio, Inc. performs its advisory services is located at 1331 S. International Parkway, Lake Mary, FL 32746, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 321-275-5125 or by fax 321-275-5126. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at shariaportfolio.com.