Azzad Asset Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for institutions, and selecting other managers. Financial planning was provided to 251–500 clients last fiscal year.
Azzad Asset Management reports 1,543 clients. They include 996 individual clients, 498 high-net-worth individuals and 44 charitable organizations. Of its assets, 99.0% ($1.82B across 18,089 accounts) are managed with discretion; $18.1M across 9 accounts are not. A wrap fee program the firm both sponsors and manages holds $175M.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 65% | 6% |
| High-net-worth individuals | 32% | 62% |
| Investment companies | <1% | 27% |
| Charitable organizations | 3% | 4% |
| Other investment advisers | <1% | <1% |
| Other client typesCorporations and other businesses | <1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 996 | $104M | 5.7% | $105K |
| High-net-worth individuals | 498 | $1.13B | 61.7% | $2.28M |
| Investment companies | 2 | $498M | 27.1% | $249M |
| Charitable organizations | 44 | $81.8M | 4.5% | $1.86M |
| Other investment advisers | Fewer than 5 | $8.34M | 0.5% | $4.17M |
| Corporations and other businesses | Fewer than 5 | $10.3M | 0.6% | $10.3M |
| Total | 1,543 | $1.84B | 100% | — |
- Clients
- 996
- Regulatory AUM
- $104M
- AUM share
- 5.7%
- Avg. per client
- $105K
- Clients
- 498
- Regulatory AUM
- $1.13B
- AUM share
- 61.7%
- Avg. per client
- $2.28M
- Clients
- 2
- Regulatory AUM
- $498M
- AUM share
- 27.1%
- Avg. per client
- $249M
- Clients
- 44
- Regulatory AUM
- $81.8M
- AUM share
- 4.5%
- Avg. per client
- $1.86M
- Clients
- Fewer than 5
- Regulatory AUM
- $8.34M
- AUM share
- 0.5%
- Avg. per client
- $4.17M
- Clients
- Fewer than 5
- Regulatory AUM
- $10.3M
- AUM share
- 0.6%
- Avg. per client
- $10.3M
Total
- Clients
- 1,543
- Regulatory AUM
- $1.84B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 251–500
Azzad Asset Management charges 1.20%–1.75% a year for its Ethical Wrap Program. Each asset band is charged at its own rate. The fee is billed in advance, is negotiable and requires an account of at least $500,000.
| Asset band | Annual rate |
|---|---|
| $0–$500K | 1.75% |
| $500K–$2M | 1.50% |
| $2M–$4M | 1.40% |
| $4M–$10M | 1.30% |
| $10M and above | 1.20% |
Fee details and sources
Bashar Qasem owns 25% to 50% of Azzad Asset Management. The leadership team of Azzad Asset Management includes President Jamal Elbarmil and Chief Compliance Officer Lejeana Love. It has 18 employees, 12 of them in advisory roles.
Leadership
- Jamal ElbarmilVice President and Shareholder
- Bashar QasemPresident, CEO and Shareholder
- Lejeana LoveChief Compliance Officer
- Manal FouzShareholder
Investment adviser representatives
12 representatives listed in the SEC register as of 9 October 2026.
- Ehab Alalfey
- Joshua A Brockwell
- Samer Eshmawy
- Reem Hussein
- Fatima Khalid Iqbal
- Ayman Salim Khalil
- Atta Mohammad Khan
- Deborah Lynn Klein
- Ibtasam Mahmood
- Bashar Mohammad Qasem
- Tameem Bashar Qasem
- Montaser Takrouri
Staff
- 18 employees
- 12 in advisory functions
- 6 state-registered reps
- Owns 25% to 50% of Azzad Asset Management, Inc.
Bashar Qasem
Control person · since August 2000
- Owns 10% to 25% of Azzad Asset Management, Inc.
Jamal Elbarmil
Control person · since April 2000
- Owns 10% to 25% of Azzad Asset Management, Inc.
Manal Fouz
since March 2007
Azzad Asset Management’s regulatory assets grew 1.7× from $1.06B (March 2021) to $1.84B (January 2026); clients rose from 1,268 to 1,543 and employees from 16 to 18.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| January 2026 | $1.84B | 1,543 | 18 | 1 |
| March 2025 | $1.62B | 1,515 | 15 | 1 |
| March 2024 | $1.49B | 1,544 | 15 | 1 |
| July 2023 | $1.23B | 1,530 | 15 | 1 |
| March 2022 | $1.28B | 1,343 | 16 | 1 |
| March 2021 | $1.06B | 1,268 | 16 | 1 |
Besides its headquarters, Azzad Asset Management has 0 offices, with 1 listed address in Virginia.
Virginia · 1 listed address
- 3141 Fairview Park Drive, Suite 355, Falls ChurchHQ
Contact and registration details
- Legal name
- Azzad Asset Management, Inc.
- Headquarters
- 3141 Fairview Park Drive, Suite 355, Falls Church, VA 22042-4533
- Website
- azzadasset.com
- Phone
- 703-207-7005
- @azzad-asset-management
- SEC file
- 801-57871
- Structure
- Delaware corporation
- Fiscal year end
- December
Azzad Asset Management uses Folio Investments ($1.02B, 85%) and Charles Schwab ($183M, 15%) as custodians for its separately managed accounts. Azzad Asset Management does not have custody of client assets.
- Folio InvestmentsFolio Investments, Inc. · McLean, VA · $1.02B85%
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $183M15%
At year end, Azzad Asset Management’s separately managed accounts were mostly in stocks (73%) and funds (25%). Its reported 13F holdings for the quarter ended 30 June 2026 total $1.13B across 351 positions; the largest are Nvidia Corporation (4.5%), Apple Inc. (3.6%) and Alphabet Inc. (3.4%).
What the accounts hold
- Stocks73%
- Funds25%
- Cash2%
Reported 13F holdings
- $1.13B
- Reported 13F value
- 351
- Positions
- 23.3%
- In the 10 largest
- +14.1%
- Value vs. prior quarter
- Nvidia Corporation4.5%
- Apple Inc.3.6%
- Alphabet Inc. · Cap Stk CL A3.4%
- KLA Corp.2.8%
- Meta Platforms Inc. · CL A1.8%
- Broadcom Inc.1.7%
- Tesla Inc.1.7%
- Microsoft Corp.1.7%
- Lam Research Corp.1.1%
- Merck & CO Inc.1.0%
Together, the ten largest are 23.3% of reported value.
How many clients does Azzad Asset Management have?
Azzad Asset Management has 1,543 clients and manages $1.84 billion for them, as of January 2026. They include 996 individual clients, 498 high-net-worth individuals and 44 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 January 2026
What services does Azzad Asset Management offer?
Azzad Asset Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for institutions, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Azzad Asset Management charge?
Azzad Asset Management charges 1.20%–1.75% a year for its Ethical Wrap Program. Each asset band is charged at its own rate. The fee is billed in advance, is negotiable and requires an account of at least $500,000.
Which custodians does Azzad Asset Management use?
Azzad Asset Management’s separately managed account assets are held at Folio Investments, Inc. (McLean, VA), with $1.02B and Charles Schwab & Co., Inc. (San Francisco, CA), with $183M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 January 2026
How many financial advisors does Azzad Asset Management have?
Azzad Asset Management has 6 investment adviser representatives registered with state securities authorities, out of 18 employees, and 12 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Azzad Asset Management invest in?
At the end of its last fiscal year, Azzad Asset Management’s separately managed accounts held 73% exchange-traded equities, 25% registered funds (mutual funds, ETFs, BDCs) and 2% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Does Azzad Asset Management have a minimum investment?
Yes, Azzad Asset Management’s minimum account size for its Ethical Wrap Program is $500K.
Who owns Azzad Asset Management?
Azzad Asset Management’s direct owners are Bashar Qasem, Jamal Elbarmil and Manal Fouz, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 30 January 2026
How does Azzad Asset Management get paid?
Azzad Asset Management is paid through a percentage of assets under management and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
Is Azzad Asset Management registered with the SEC?
Yes, Azzad Asset Management has been registered with the SEC as an investment adviser since 21 August 2000. Its CRD number is 111291 and its SEC file number is 801-57871.
Source: Form ADV Part 1A, Item 1, filed 30 January 2026; IAPD firm record
How do I contact Azzad Asset Management?
Azzad Asset Management’s main office is at 3141 Fairview Park Drive, Suite 355, Falls Church, VA 22042-4533. Its phone number is 703-207-7005. Its website is azzadasset.com.