Wahed Invest LLC (New York)

Name: Wahed Invest LLC
Address: 12 East 49 Th Street, 11 Th Floor, New York, NY, 10017
Telephone: 1-855-976-4747

Wahed Invest LLC is an internet adviser based in New York. It manages $38.63 million of regulatory assets for 9,858 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.

Wahed Invest provides portfolio management for individuals and small businesses and portfolio management for investment companies. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Wahed Invest: assets under management

The assets under management (AUM) of Wahed Invest LLC is $38.63 million. The firm's AUM has grown by 6935% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $23.95 million in discretionary accounts and $14.68 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $2.43 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $14.68 million.

Investments

The firm invests in exchange traded securities the most. They account for 76% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 14% of the firm’s portfolio. Investments in cash and cash equivalents form 10% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Wahed Invest LLC for their services and products based on a percentage of assets under management. 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 Wahed Invest serves?

The firm provides services to individuals and investment companies. The largest group of clients of Wahed Invest is individuals with 9,857 clients and $23.95 million of assets under management. Among the 0 most similar advisory firms, Wahed Invest has the 0th lowest percentage of individuals out of all clients.

The amount of regulatory assets under management is $38.63 million for 9,858 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Wahed Invest doesn't advise any private funds.

Careers at Wahed Invest LLC

The company employs 15 people that are either part- or full-time employees. 20 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Junaid Arshad Wahedna	President, ceo	1 May 2015	Other	6506240
Mohammad Khalid Yousaf	Chief operating officer	1 Aug 2016	Other	6723570
Wahed Inc.	Sole member	1 Mar 2017	75% - 100%	36-4851018
Aris Parviz	Head of north america, svp	1 May 2017	Other	7013062
Harsh Khurana	Chief compliance officer, chief financial officer	1 Jun 2017	Other	5829302
Musa Abdul Basser	Chief compliance officer, chief legal officer	1 Oct 2017	Other	5829302

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Junaid Arshad Wahedna	Shareholder	1 Mar 2017	25% - 50%	6506240

Based in New York

The principal office where Wahed Invest LLC performs its advisory services is located at 12 East 49 Th Street, 11 Th Floor, New York, NY 10017, which is also the mailing address of the firm. An additional office of the firm is in Tysons, VA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 1-855-976-4747. The normal business hours are 10am to 6pm on Monday - Friday. You can find more information about the New York firm at wahedinvest.com.