Aghaz selects DriveWealth to provide infrastructure for values-based investing app
DriveWealth, LLC, a leading global brokerage infrastructure platform, today announced a partnership with Aghaz Investments, a Seattle-based Robo- advisor that enables Muslim consumers to save for their financial goals by investing in companies that align with the values of Islam.
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Aghaz customers input their financial goals and receive optimized portfolios that are aligned with their beliefs. For example, companies or ETFs that deal with alcohol will not be available on the platform. Aghaz will also screen companies based on additional Islamic parameters such as the percentage of debt on a firm’s balance sheet.
Using DriveWealth’s portfolio management system, Autopilot, Aghaz enables users to have customized portfolios based on goals, such as saving for Hajj or Umrah, or buying a house or vehicle.
“Autopilot gives our partners the ability to customize the investing experience based on their customers’ investing goals and preferences and rebalance automatically,” said Bob Cortright, founder and CEO of DriveWealth. “Aghaz Investments presents consumers with a unique opportunity to reach their financial goals in a way that is personal to them without compromising their values.”
While Aghaz is initially targeting U.S.-based Muslim consumers, the company will eventually offer custom-values products for anyone wishing to invest based on their personal values like climate change or equal rights.
“At Aghaz, we are passionate about understanding Muslims’ relationship with money and enabling them to save for their financial goals according to their beliefs,” said Khurram Agha, Founder and CEO of Aghaz Investments. “DriveWealth provides a robust and comprehensive API platform that Aghaz leveraged to launch goal-based investment strategies for our customers in a secure and effective manner.”