Salaam everyone,
Have you heard Ibrahim & Mohsin talk about Robo-advisors on the Halal InvestFest?
They mentioned some examples like Wahed, Simply Ethical, and Sarwa.
Have you guys tried any of these or any other robo advisor? What do you think about them? Other than being simple and easy, what do you like about them? and what is not so great?
Salaams
I think the questions that Robo Advisors ask are quite superficial and so not deep enough to gain a true understanding of ones financial goals.
As a customer of Wahed, it is great that a global Islamic brand has become established. Their customer service (via email) is quick and helpful. Although I have feeling their fees are more expensive (especially compared to the mainstream such as Vanguard). I hope that over time these fees are reduced.
I kinda agree actually - these robo advisors are so hands-off and the portfoliods aren’t personalized at all. It would be nice to have an option of customizing your portfolio a little bit more.
Agree to both comments above.
I found the customer service for Wahed excellent too but being a Robo advisor, their platform/advisory fee feels quite high.