I am in the US. I have about $25,000 to invest but confused about where to start. I am not very savvy about the stock market. I have been reading about the halal ETFs such as HLAL and SPUS.
Platforms like ShariaPortfolio and Wahed charge about 0.75% fee to invest less than $100,000 (from what I have read on their websites).
Because I don’t know how to invest and don’t have enough time to keep track on a regular basis should I stay with one of these platforms?
Or should I try something like M1 Finance?
I guess the question is if I buy SPUS through M1 finance can I “buy it and forget it” or will I need to track it regularly since I won’t have an advisor doing it for me?
Does anyone know if Wahed and ShariaPortfolio have advisors managing the funds if less than $100,000?
Sorry for the long post and Jazakallah for your time!
Walaikum Assalaam @Agentkhan!
Welcome the Zoya Community! So great to have you with us
I think one question I can help with is what will happen if you buy SPUS. SPUS is an ETF, an exchange traded fund. As such, because its a fund it’s a diversified collection of stocks. You won’t have someone actively managing your money, but you can “but it and forget it.” From personal experience, I’m a pretty lazy investor and although I do a portion of my investments in stocks I own, most of my money is in ETFs. I am in Canada, so it’s a different shariah compliant holding.
I’m hoping someone with more experience in using the tools and services you’ve referenced can provide their perspective as well.
