168globalwealth.com Review

Based on looking at the website 168globalwealth.com, which redirects to Alexander Peter Wealth Management, it appears to be a financial advisory service.

However, it’s crucial to assess such services through an Islamic ethical lens, particularly concerning the concept of Riba interest and the permissibility of their financial products.

While the website mentions “Ethical Investing,” the fundamental model of conventional wealth management often involves interest-based instruments and other practices that may not align with Islamic finance principles. Therefore, caution is advised.

Overall Review Summary:

• Website Type: Financial advisory and wealth management.
• Stated Purpose: Creating unique financial solutions, pension advice, personal financial planning.
• Key Services: UK pension advice, savings & investments, tax-advantaged investments, ethical investing.
• Ethical Consideration Islamic Finance: The core business model of conventional wealth management, which typically includes interest-bearing investments and loans, is not permissible in Islam due to Riba. While “Ethical Investing” is mentioned, it’s not explicitly stated if this adheres to Sharia principles, and the broader financial ecosystem they operate within is likely interest-based.
• Recommendation: Not recommended from an Islamic financial perspective due to the high probability of involvement in interest-based transactions and a lack of explicit Sharia compliance. Financial engagement with such entities may lead to involvement in Riba.
• Alternatives: Seek out explicitly Sharia-compliant financial advisors, Islamic banks, and investment platforms that ensure all transactions are free from Riba, Gharar excessive uncertainty, and Maysir gambling.

While Alexander Peter Wealth Management presents itself as a trusted and experienced global financial advisor, the critical issue for a Muslim individual is the underlying nature of the financial instruments and practices.

Traditional financial planning, even when aiming for “ethical” investments, often operates within a system where interest is a fundamental component.

Islam strictly prohibits Riba, which encompasses any fixed or guaranteed return on money lent or borrowed, as it is seen as unjust and exploitative.

Unless a financial institution explicitly states and demonstrates adherence to Sharia-compliant principles—such as through Sukuk Islamic bonds, Islamic equity funds filtered for permissible industries, Takaful Islamic insurance, and Murabaha cost-plus financing—it is best to avoid engaging with them for wealth management.

The risk of inadvertently participating in forbidden transactions is too high.

Here are some better alternatives for ethical wealth management that align with Islamic principles:

• Amanah Financial
  • Key Features: Sharia-compliant financial planning, investment management, and wealth preservation. Focuses on ethical and halal portfolios.
  • Pros: Dedicated to Islamic finance principles, offers personalized advice, transparent fee structures, and aims for long-term halal growth.
  • Cons: May have fewer conventional investment options compared to mainstream firms.
• ShariaPortfolio
  • Key Features: Specializes in Sharia-compliant investment portfolios, including halal mutual funds and managed accounts. Emphasizes socially responsible investing within Islamic guidelines.
  • Pros: Strong focus on Islamic finance, diversified investment options, professional management.
  • Cons: Minimum investment requirements might be higher for some services.
• Wahed Invest
  • Key Features: Digital investment platform offering diversified, Sharia-compliant portfolios managed by experts. Accessible and low minimums.
  • Pros: Easy to use, low fees, broad accessibility, globally diversified halal portfolios.
  • Cons: Automated advice may not suit those seeking highly personalized, complex financial planning.
• Guidance Residential
  • Key Features: Provides Sharia-compliant home financing solutions based on Murabaha cost-plus financing and diminishing Musharaka partnership.
  • Pros: Addresses a major financial need housing in a halal way, transparent structures.
  • Cons: Specific to real estate financing, not a full wealth management service.
• Sincere Halal Investing
  • Key Features: Offers Sharia-compliant investment strategies and wealth advisory services. Focuses on ethical and socially responsible investments.
  • Pros: Personalized approach, comprehensive financial planning with an Islamic focus.
  • Cons: Newer firm, so track record might be shorter compared to established players.
• Halal Investing Funds via Amazon Search
  • Key Features: While not a direct service, this category on Amazon can lead you to books and resources on understanding and implementing halal investment strategies. Knowledge is power.
  • Pros: Accessible, self-paced learning, empowers individuals to make informed decisions.
  • Cons: Requires self-discipline and research to apply principles effectively.
• Islamic Finance Books via Amazon Search
  • Key Features: A broader category for learning about Islamic finance principles, instruments, and ethical considerations.
  • Pros: Fundamental knowledge for anyone serious about managing their wealth according to Islamic principles, empowers independent decision-making.
  • Cons: Requires dedicated study and interpretation.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

168globalwealth.com Review & First Look: A Deep Dive into Alexander Peter Wealth Management

When you land on 168globalwealth.com, you’re immediately redirected to the Alexander Peter Wealth Management website.

This initial redirect can be a bit jarring, but it clarifies that 168globalwealth.com is simply a gateway to their primary operation.

Alexander Peter Wealth Management presents itself as a global financial advisory firm, with a stated mission to create “unique financial solutions for every stage of your life.” They emphasize a client-centric approach, acting as fiduciaries, meaning they are “required to act in the best interests of our clients and not place our own interests first.” This fiduciary duty is a critical standard in financial advice, signifying a higher level of trust and responsibility compared to non-fiduciary advisors.

The website highlights several key aspects of their service:

• Experienced UK Pension Advisors: A strong focus on navigating the complexities of UK pension schemes, which can be particularly relevant for expatriates or those with UK ties.
• Comprehensive Personal Financial Planning: Covering a broad spectrum of financial needs beyond just pensions.
• Clear and Transparent Fee Structures: A welcome claim, as opaque fees are a common complaint in the financial industry.
• Global Client Base: They state they are “trusted by clients around the globe” and have offices across three continents, including their global administration office in London. This suggests a capacity to handle international financial planning, a niche service.

From a general perspective, the website’s claims of fiduciary responsibility and global reach sound appealing. However, for those seeking Sharia-compliant financial solutions, the crucial question lies beneath these surface claims. While they mention “Ethical Investing” as one of their services, there is no explicit mention of adherence to Islamic finance principles or Sharia compliance. In conventional finance, “ethical investing” often refers to environmental, social, and governance ESG factors, which are distinct from the strict prohibitions of Riba interest, Gharar excessive uncertainty, and Maysir gambling central to Islamic finance. Without clear declarations of Sharia-compliance, such as certifications from reputable Islamic finance bodies, a Muslim individual should proceed with extreme caution. The involvement of interest-based transactions Riba is a major concern here, and conventional financial products are almost always structured with interest.

Initial Website Impressions

The website itself is professionally designed, featuring clear navigation and a clean layout.

It provides information about their team, services, and regulatory status.

• Ease of Use: The site is intuitive, with clearly labeled sections like “Who are we,” “Financial Advice,” and “Updates/Info.”
• Professional Appearance: High-quality imagery and a consistent brand identity contribute to a sense of reliability.
• Information Accessibility: Key information, such as contact details and service offerings, is readily available.

Lack of Explicit Sharia Compliance

This is the most significant drawback for a Muslim audience. Despite the “Ethical Investing” section, there’s no mention of:

• Sharia Supervisory Board: A panel of Islamic scholars to ensure compliance.
• Halal Investment Filters: Explicit criteria used to screen out impermissible industries or financial instruments e.g., alcohol, tobacco, conventional banking, interest-bearing debt.
• Zakat Calculation/Assistance: A common service offered by Islamic financial institutions.

This silence on Sharia compliance strongly suggests that their services operate within the conventional financial framework, making them generally impermissible for Muslims.

Why Conventional Financial Advisory is Not Permissible

The fundamental reason why conventional financial advisory services like Alexander Peter Wealth Management are problematic from an Islamic perspective is their inherent reliance on Riba interest. Islam explicitly prohibits Riba, considering it an exploitative and unjust form of wealth accumulation. Boatersland.com Review

This prohibition is not merely a preference but a core principle of Islamic economic justice.

The Prohibition of Riba

Riba refers to any increase, addition, or excess in a transaction without a corresponding legitimate exchange of goods or services, particularly in the context of lending and borrowing money. The Quran and Sunnah unequivocally condemn Riba.

• Quranic Verdict: The Quran states in Surah Al-Baqarah 2:275, “Those who consume interest will stand on the Day of Judgment like one driven to madness by Satan’s touch. That is because they say, ‘Trade is just like interest.’ But Allah has permitted trade and forbidden interest.”
• Prophetic Teachings: The Prophet Muhammad peace be upon him cursed the one who consumes Riba, the one who pays it, the one who writes its contract, and the two witnesses to it, stating they are all equal in sin.

How Riba Manifests in Conventional Finance

In the context of wealth management, Riba permeates numerous conventional financial products and services:

• Interest-Bearing Savings Accounts: Funds deposited in conventional banks earn interest, which is Riba.
• Bonds and Fixed-Income Securities: The primary mechanism of bonds is the payment of fixed interest to bondholders.
• Conventional Loans and Mortgages: Whether for personal use, business, or housing, these are typically structured with interest payments.
• Certain Investment Funds: Many mutual funds or ETFs may hold significant portions of interest-bearing debt, or invest in companies whose primary business involves Riba e.g., conventional banks, insurance companies.
• Derivatives and Speculative Instruments: Many derivatives, while not directly Riba, involve excessive uncertainty Gharar or gambling Maysir, both of which are also prohibited.

The Impermissibility of “Indirect” Involvement

Some might argue that simply receiving advice from a conventional firm doesn’t directly involve Riba.

However, by engaging a firm that then places your funds into interest-bearing instruments or recommends such products, one is indirectly participating in a system built upon Riba.

Islam encourages seeking pure and permissible earnings and avoiding even the facilitation of impermissible transactions.

A Muslim’s wealth should be grown and managed in a way that aligns with divine principles, promoting justice, equity, and ethical conduct.

Therefore, any financial service that does not explicitly guarantee Sharia compliance in its operations and product offerings should be avoided.

168globalwealth.com Pros & Cons Only Cons from an Islamic Perspective

From a general, non-Islamic financial viewpoint, Alexander Peter Wealth Management might offer several advantages, such as global reach, fiduciary duty, and a focus on personalized advice.

However, when evaluating it through the strict lens of Islamic finance, the cons significantly outweigh any potential secular pros due to the fundamental prohibition of Riba interest and the lack of explicit Sharia compliance. Junglecommunications.com Review

Cons from an Islamic Financial Perspective

• Involvement in Riba Interest: This is the paramount concern. Conventional wealth management inherently deals with interest-bearing products like bonds, conventional savings accounts, and investments in companies that rely on interest. Since Islam strictly prohibits Riba, engaging with such services means directly or indirectly participating in forbidden transactions.
  • Data Point: A significant portion of global financial assets, estimated in the trillions of dollars, is tied to interest-bearing instruments. For example, the global bond market alone is worth over $100 trillion, all fundamentally interest-based.
• Lack of Sharia Compliance Certification: The website does not mention any Sharia Supervisory Board or independent Sharia audit. Without this, there is no assurance that their investment portfolios or financial advice adhere to Islamic principles.
  • Industry Standard: Reputable Islamic financial institutions prominently display their Sharia compliance certifications and list their Sharia advisors. For example, the Accounting and Auditing Organization for Islamic Financial Institutions AAOIFI sets global Sharia standards.
• Potential for Gharar Excessive Uncertainty and Maysir Gambling: While not explicitly stated, conventional investment strategies can sometimes involve complex derivatives or highly speculative ventures that introduce excessive uncertainty or elements of gambling, both forbidden in Islam.
• Investment in Impermissible Industries: Conventional financial advisors typically do not screen investments based on ethical guidelines like those in Islam. This means funds could be invested in companies involved in alcohol, tobacco, conventional banking, gambling, or other impermissible sectors.
• No Zakat Calculation or Management: Islamic financial institutions often provide services for calculating and distributing Zakat, a mandatory charitable giving in Islam. Conventional firms do not offer this, leaving the Muslim client to manage this crucial obligation independently.
• No Explicit Halal Financial Products: Although “Ethical Investing” is listed, it is not synonymous with “Halal Investing.” The former usually refers to ESG Environmental, Social, Governance criteria, which often do not include the specific prohibitions of Riba, Gharar, and Maysir.
• Potential for Misleading “Ethical” Claims: Without clear Sharia-compliance, the term “ethical” can be misleading for a Muslim audience, as it doesn’t guarantee adherence to Islamic financial ethics.

For these reasons, from an Islamic ethical standpoint, Alexander Peter Wealth Management is not a recommended choice for financial advisory services.

The potential for involvement in forbidden financial practices is too high.

Understanding the Difference: Ethical Investing vs. Halal Investing

It’s easy to get confused by terms like “ethical investing” and “halal investing,” especially when a conventional financial firm mentions the former.

While both aim for responsible investment, their underlying principles and screening methodologies are distinct, and for a Muslim, this distinction is crucial.

Ethical Investing ESG Investing

Ethical investing, often synonymous with Environmental, Social, and Governance ESG investing, focuses on a company’s impact on society and the environment, as well as its internal governance practices.

• Environmental Factors: Consider a company’s carbon footprint, waste management, resource depletion, and renewable energy adoption. For example, investing in companies with strong environmental policies and low pollution.
• Social Factors: Evaluate a company’s labor practices, human rights record, community engagement, diversity, and customer satisfaction. This might involve avoiding companies with child labor or poor worker safety.
• Governance Factors: Assess a company’s leadership structure, executive compensation, internal controls, shareholder rights, and transparency. Good governance aims to prevent corruption and ensure accountability.

The primary goal of ESG investing is often to generate competitive returns while aligning with certain moral or social values. It’s about investing in “good” companies that contribute positively to the world. However, an ESG-screened fund could still hold shares in a conventional bank that deals in interest, or a company that derives substantial income from impermissible sources, as long as it meets the environmental, social, and governance criteria. For example, a cigarette company might have excellent governance and social programs, but it would still be impermissible in Islam.

Halal Investing Sharia-Compliant Investing

Halal investing, on the other hand, is guided by the principles of Islamic finance derived from the Quran and Sunnah. Its core aim is to ensure that investments are not just “ethical” in a broad sense but are strictly permissible halal under Islamic law. This means adhering to specific prohibitions and guidelines:

• Prohibition of Riba Interest: Absolutely no investment in interest-bearing debt, conventional bonds, or companies whose primary business involves lending with interest e.g., conventional banks, insurance companies that engage in Riba.
• Prohibition of Gharar Excessive Uncertainty/Ambiguity: Avoidance of highly speculative financial instruments, complex derivatives, or transactions where the outcome is overly uncertain, akin to gambling.
• Prohibition of Maysir Gambling: Exclusion of investments in gambling operations, casinos, or companies whose income is primarily derived from betting.
• Prohibition of Investment in Impermissible Industries: Strict screening to exclude companies involved in:
  • Alcohol production or sales
  • Pork-related products
  • Tobacco
  • Weapons manufacturing with certain caveats
  • Pornography or immoral entertainment
• Equity Screening: For stock investments, companies are typically screened based on financial ratios to ensure their debt levels especially interest-bearing debt and impure income income from impermissible sources are below a certain permissible threshold, usually outlined by Sharia standards like those from AAOIFI or MSCI Islamic Indices.
• Zakat Purification: Investors are often required to purify any impure income e.g., minor interest earned accidentally through charity.

The primary goal of Halal investing is to achieve permissible returns while strictly adhering to Islamic law, regardless of broader social impact issues though many halal investments inherently align with positive social impacts.

Why the Distinction Matters for Alexander Peter Wealth Management

When Alexander Peter Wealth Management mentions “Ethical Investing,” they are almost certainly referring to ESG criteria.

There is no indication that their “Ethical Investing” service incorporates the specific, non-negotiable prohibitions of Riba, Gharar, Maysir, or screens for impermissible industries according to Islamic law. Unirelo.com Review

Therefore, for a Muslim seeking truly permissible financial management, a conventional “ethical investing” option provided by a firm like Alexander Peter Wealth Management is unlikely to be sufficient or appropriate.

It is imperative to seek out financial services that explicitly state and demonstrate Sharia compliance through adherence to recognized Islamic finance standards.

How to Cancel 168globalwealth.com Subscription or Alexander Peter Wealth Management Engagement

Since 168globalwealth.com redirects to Alexander Peter Wealth Management, any “subscription” or engagement would be with Alexander Peter Wealth Management directly.

Canceling services with a financial advisory firm typically involves a formal process, rather than a simple online “cancel subscription” button like a streaming service.

This is due to the nature of financial contracts, asset management, and regulatory requirements.

Here’s a general guide on how to approach canceling your engagement with a financial advisor, which would apply to Alexander Peter Wealth Management based on the information provided on their website:

1. Review Your Client Agreement/Contract:

   • The first and most crucial step is to retrieve and meticulously review the client agreement or contract you signed when you initiated services with Alexander Peter Wealth Management. This document will outline the specific terms and conditions for termination, including:
     • Notice Period: How much advance notice e.g., 30, 60, or 90 days you need to provide before terminating services.
     • Fees: Any termination fees, early withdrawal penalties, or outstanding charges.
     • Account Transfer Process: Procedures for transferring your assets to another institution or liquidating them.
     • Communication Method: Whether termination requests must be in writing email, certified mail, or formal letter.

2. Contact Your Financial Advisor Directly:

   • Initiate contact with your assigned financial advisor or their client service team.
   • Contact Information: The Alexander Peter Wealth Management website lists:
     • Phone: +34 951 121 880
     • Email: [email protected]
   • Clearly state your intention to terminate services. Be prepared to discuss your reasons, although you are not obligated to provide extensive details. From an Islamic perspective, you could simply state a change in your financial planning strategy or a desire to move to Sharia-compliant services.
3. Submit a Formal Written Request:

   • Even if you discuss it over the phone, it is highly advisable to follow up with a formal written request for termination. This creates a clear record of your request and its date.
   • Content of the Letter/Email:
     • Your full name and client account numbers.
     • A clear statement that you wish to terminate your financial advisory services.
     • The effective date of termination if applicable, based on your contract’s notice period.
     • Instructions on how you wish to handle your assets e.g., transfer to a new brokerage, liquidate and transfer funds to a bank account.
     • A request for confirmation of termination and a final statement of account.
   • Send this via a method that provides proof of delivery, such as certified mail or an email with a read receipt, if possible.

4. Confirm Asset Transfer/Liquidation: Hethuisartslab.com Review

   • Work closely with Alexander Peter Wealth Management and your new financial institution if transferring assets to ensure a smooth transition.
   • Verify that all assets are transferred correctly or that all funds have been deposited into your designated bank account.
   • Be aware of tax implications: Liquidating investments can trigger capital gains taxes. Consult with a tax professional before making final decisions.

5. Finalize Account Closure:

   • Once all assets are moved or liquidated, ensure you receive a final statement confirming the closure of your accounts with Alexander Peter Wealth Management.

Important Considerations for Muslims:

• Halal Transfer: If you are moving to a Sharia-compliant financial institution, ensure the transfer process itself does not involve impermissible transactions.
• Purification of Impure Income: If you have received any interest Riba from your investments with Alexander Peter Wealth Management, you must purify this income by donating it to charity not for personal benefit. Calculate any such income and give it away.

Given that Alexander Peter Wealth Management deals with complex financial products and global regulations, the cancellation process might take some time. Patience and clear communication, coupled with a thorough review of your contract, will be key to a smooth transition.

Alexander Peter Wealth Management Pricing Implied by Services

The Alexander Peter Wealth Management website does not explicitly list a pricing schedule or specific fees.

This is typical for bespoke financial advisory services, where fees are often customized based on the complexity of the client’s financial situation, the volume of assets under management AUM, and the specific services rendered.

However, we can infer common pricing models used by such firms in the industry.

Typical Fee Structures for Financial Advisors:

1. Assets Under Management AUM Fee:

   • This is the most common fee model for wealth management firms. Advisors charge a percentage of the total value of the assets they manage for you.
   • Typical Range: This usually ranges from 0.5% to 2.0% per year, depending on the size of the portfolio. Larger portfolios often attract lower percentage fees.
   • How it Works: If you have $1,000,000 under management and the fee is 1% per year, you would pay $10,000 annually. This fee is typically deducted directly from your investment accounts.
   • Likelihood for Alexander Peter Wealth Management: Highly likely, given their focus on “wealth management” and “creating unique financial solutions.”

2. Hourly Fees:

   • Some advisors charge a flat hourly rate for their time, particularly for specific consultations or one-off financial planning advice e.g., a pension review.
   • Typical Range: $150 to $400+ per hour, depending on the advisor’s experience and location.
   • Likelihood for Alexander Peter Wealth Management: Possible for initial consultations or specific, limited scope advice.

3. Flat Fee/Retainer: Mightysolo.com Review

   • A set annual or project-based fee for ongoing advice, regardless of AUM. This can be beneficial for clients with significant assets who prefer not to pay a percentage.
   • Typical Range: Can range from $2,000 to $10,000+ per year, depending on the scope of services.
   • Likelihood for Alexander Peter Wealth Management: Less common as a primary model for ongoing wealth management, but possible for comprehensive financial planning packages.

4. Commission-Based:

   • Advisors earn commissions from the sale of specific financial products e.g., mutual funds, insurance policies. This model can create conflicts of interest, as advisors might be incentivized to sell products that offer higher commissions rather than those truly best for the client.
   • Likelihood for Alexander Peter Wealth Management: The website states, “We are totally independent as we are privately owned which means we recommend the most appropriate and tailor-made solutions from the open market as we are not tied to any one company.” While this sounds good, it doesn’t explicitly rule out commissions from third-party products they recommend. However, their claim of being “fiduciaries” generally implies they would lean towards fee-based models AUM or hourly/flat fees to minimize conflicts of interest.

Inferred Pricing Strategy for Alexander Peter Wealth Management

Given their emphasis on “clear and transparent fee structures” and their status as fiduciaries, it is highly probable that Alexander Peter Wealth Management primarily uses an Assets Under Management AUM fee model, potentially combined with hourly or flat fees for certain advisory services not directly tied to AUM. For example, a pension transfer consultation might be a flat fee, while ongoing investment management would be an AUM percentage.

What to Expect and ask for:
If considering Alexander Peter Wealth Management or any conventional financial advisor, it is absolutely essential to ask for a detailed breakdown of all fees and charges before engaging their services. They should provide a clear fee schedule in writing.

Islamic Perspective on Fees:

From an Islamic finance standpoint, the fee structure itself e.g., AUM, hourly is generally permissible as long as the underlying services and investments are Sharia-compliant.

The issue with Alexander Peter Wealth Management’s pricing isn’t the fee model itself, but what those fees are for – managing wealth within a conventional, likely interest-based, financial system.

Therefore, even if their fees are transparent and reasonable by conventional standards, the underlying impermissibility of Riba makes engaging with them problematic for a Muslim.

Alexander Peter Wealth Management vs. Sharia-Compliant Alternatives

When comparing Alexander Peter Wealth Management with Sharia-compliant alternatives, it’s not just about services offered but fundamentally about the ethical and religious framework guiding those services.

The core distinction lies in adherence to Islamic law, specifically the prohibition of Riba interest and investments in impermissible activities.

Alexander Peter Wealth Management Conventional Model

• Focus: Global wealth management, UK pensions, personal financial planning.
• Regulatory Status: SEC-licensed for US clients Alex Stojkovic and regulated by relevant authorities in regions where they operate implied by “Regulation” link and EU/UK qualifications for Paul Griffiths.
• Ethical Investing Claim: Mentions “Ethical Investing,” which in conventional finance typically refers to ESG Environmental, Social, Governance criteria. This is not equivalent to Halal investing.
• Products & Services: Likely utilizes conventional financial instruments such as:
  • Interest-bearing savings and checking accounts.
  • Conventional bonds government, corporate.
  • Mutual funds/ETFs that may hold impermissible assets e.g., conventional banks, alcohol, tobacco companies, high debt levels.
  • Interest-based loans or mortgages if part of their broader advice, or if they recommend external lenders.
• Fee Structure: Most likely AUM-based fees, potentially hourly or flat fees for specific services.
• Pros Conventional: Fiduciary duty, global presence, experienced team, personalized advice.
• Cons Islamic Perspective: High probability of involvement in Riba, lack of explicit Sharia compliance, no Sharia supervisory board, potential for investments in impermissible industries.

Sharia-Compliant Alternatives

These firms or platforms are built from the ground up to adhere to Islamic finance principles. Prunedanish.com Review

1. Wahed Invest Digital Platform

• Focus: Digital, accessible Sharia-compliant investment portfolios.
• Regulatory Status: Regulated in multiple jurisdictions e.g., SEC in the US, FCA in the UK, SC in Malaysia, etc..
• Ethical Investing Claim: Explicitly Sharia-compliant, with a dedicated Sharia Advisory Board. All investments are screened rigorously.
• Products & Services:
  • Diversified portfolios composed of global halal stocks screened for Riba, impermissible industries, and financial ratios.
  • Sukuk Islamic bonds, which are asset-backed and interest-free.
  • Gold physical gold ETFs.
  • Real estate investment trusts REITs screened for Sharia compliance.
• Fee Structure: Low AUM fees typically 0.25% – 0.99% per year, making it highly competitive for various portfolio sizes.
• Pros: Fully Sharia-compliant, accessible low minimums, diversified, low fees, easy-to-use digital platform.
• Cons: Automated advice may not suit those needing complex, highly personalized financial planning. limited direct human advisor interaction for complex needs.

2. ShariaPortfolio Specialized Investment Management

• Focus: Comprehensive Sharia-compliant investment management and financial planning.
• Regulatory Status: SEC-registered investment advisor in the US.
• Ethical Investing Claim: 100% Sharia-compliant, with a strong emphasis on adhering to AAOIFI standards.
  • Managed portfolios for individuals, institutions, and foundations.
  • Halal mutual funds.
  • Retirement planning halal IRAs, 401k rollovers.
  • Wealth management services that actively screen for Riba and impermissible businesses.
• Fee Structure: Typically AUM-based, competitive with conventional advisors but for Sharia-compliant assets.
• Pros: Deep expertise in Islamic finance, personalized service for more complex needs, strong commitment to Sharia compliance.
• Cons: Higher minimum investment requirements compared to digital platforms. primarily focused on the US market.

3. Amanah Financial Holistic Financial Planning

• Focus: Holistic Sharia-compliant financial planning, often catering to high-net-worth individuals and families.
• Ethical Investing Claim: Fully Sharia-compliant, integrated into every aspect of their advice.
  • Comprehensive financial planning, including retirement, education, and estate planning.
  • Halal investment management.
  • Zakat planning and distribution advice.
  • Integration of Islamic values into financial decisions.
• Fee Structure: Generally AUM-based, with potential for flat fees for planning services.
• Pros: Highly personalized and comprehensive Sharia-compliant financial planning, often includes Zakat advisory.
• Cons: Likely higher minimums, geared towards more complex financial situations.

Key Takeaway for Muslims

For a Muslim, the choice is clear: Alexander Peter Wealth Management is not suitable due to its likely involvement in Riba and lack of explicit Sharia compliance. Sharia-compliant alternatives like Wahed Invest, ShariaPortfolio, and Amanah Financial offer services specifically designed to ensure investments and financial planning adhere to Islamic principles, thereby protecting one’s wealth from impermissible earnings and ensuring financial decisions align with faith. It’s not about which firm is “better” in a conventional sense, but which one operates within the permissible boundaries of Islamic law.

Frequently Asked Questions

What is 168globalwealth.com?

168globalwealth.com acts as a redirect to Alexander Peter Wealth Management, which is a global financial advisory firm specializing in wealth management and financial planning services.

Is Alexander Peter Wealth Management Sharia-compliant?

No, based on the information available on their website, Alexander Peter Wealth Management does not explicitly state or demonstrate adherence to Sharia-compliant principles.

While they mention “Ethical Investing,” this term in conventional finance typically refers to ESG factors, which are distinct from the strict prohibitions of Riba interest, Gharar excessive uncertainty, and Maysir gambling in Islamic finance.

What services does Alexander Peter Wealth Management offer?

Alexander Peter Wealth Management offers personal financial planning, advice on UK pensions, savings & investments, tax-advantaged investments, and general wealth management solutions.

Why is conventional financial advisory not permissible in Islam?

Conventional financial advisory is generally not permissible in Islam because it often involves interest-bearing transactions Riba, investments in impermissible industries e.g., alcohol, gambling, and instruments with excessive uncertainty Gharar, all of which are prohibited in Islamic law.

What is Riba and why is it forbidden?

Riba refers to interest or any unearned increment in a transaction, particularly in lending and borrowing.

It is strictly forbidden in Islam because it is considered exploitative, unjust, and goes against the principle of fair exchange and risk-sharing.

Does “Ethical Investing” mean “Halal Investing”?

No, “Ethical Investing” often ESG investing typically focuses on environmental, social, and governance factors.

While positive, it does not necessarily include the specific prohibitions of Riba, Gharar, Maysir, or industry screening against alcohol, pork, etc., which are central to “Halal Investing” Sharia-compliant investing. Iyunmai.com Review

What are some Sharia-compliant alternatives for wealth management?

Some prominent Sharia-compliant alternatives include platforms and firms like Wahed Invest, ShariaPortfolio, and Amanah Financial, which explicitly adhere to Islamic finance principles and have Sharia supervisory boards.

How do Sharia-compliant financial advisors differ from conventional ones?

Sharia-compliant advisors ensure all investments and financial products are free from Riba, Gharar, and Maysir, and do not involve impermissible industries.

They often have a Sharia Supervisory Board to ensure compliance and may offer services like Zakat calculation.

Can I invest in stocks with a Sharia-compliant approach?

Yes, Sharia-compliant investing allows for stock investments, but only in companies that pass specific Sharia screens.

These screens check for acceptable business activities e.g., not alcohol or gambling and financial ratios e.g., low interest-bearing debt, minimal impermissible income.

Are there any Sharia-compliant options for pension planning?

Yes, some Sharia-compliant financial firms offer pension planning services that ensure your retirement funds are invested in halal assets, often through Sharia-compliant retirement accounts or funds.

How do I verify if a financial product is truly Sharia-compliant?

To verify Sharia compliance, look for explicit statements of adherence to recognized Islamic finance standards like AAOIFI, a Sharia Supervisory Board, and transparent disclosures about their investment screening process.

What should I do if my current investments are not Sharia-compliant?

If your current investments are not Sharia-compliant, you should consult with a qualified Islamic financial advisor to understand permissible ways to transition your assets to halal instruments and purify any impure income Riba through charity.

Is Takaful an alternative to conventional insurance?

Yes, Takaful is an Islamic form of insurance based on mutual cooperation and solidarity, where participants contribute to a fund used to assist those facing losses.

It is a Sharia-compliant alternative to conventional interest-based insurance. Smashthewalls.com Review

What is Sukuk and how does it compare to bonds?

Sukuk are Islamic financial certificates that represent ownership in tangible assets or specific projects, rather than a debt.

Unlike conventional bonds that pay interest, Sukuk generate returns from the underlying asset’s profit or lease payments, making them Sharia-compliant.

Does Alexander Peter Wealth Management offer services specifically for Muslims?

Based on their website content, there is no indication that Alexander Peter Wealth Management offers services tailored specifically for the Muslim community or adheres to Islamic financial principles.

How can I cancel my engagement with Alexander Peter Wealth Management?

To cancel engagement, you should review your client agreement, contact your assigned advisor or client service team, and then submit a formal written request for termination, outlining your instructions for asset transfer or liquidation.

Are there any fees for canceling services with Alexander Peter Wealth Management?

Cancellation fees or early withdrawal penalties depend on the terms outlined in your client agreement with Alexander Peter Wealth Management.

It’s crucial to review your contract before initiating the cancellation process.

What is the typical fee structure for Alexander Peter Wealth Management?

While not explicitly stated on their website, financial advisory firms like Alexander Peter Wealth Management typically charge fees based on Assets Under Management AUM, usually a percentage of the total assets they manage for you annually.

Where is Alexander Peter Wealth Management regulated?

The website indicates that Director Alex Stojkovic is licensed to provide investment advice via the SEC for US resident clients, and Paul Griffiths holds EU/UK level 4 qualifications, implying regulation in those regions.

Can I learn more about Islamic finance without directly engaging a financial advisor?

Yes, you can learn more about Islamic finance through books, online courses, reputable Islamic finance websites, and academic journals.

Many resources are available to help you understand the principles and applications of halal investing. Barndoorhardware.com Review