Therockfmc.co.uk Reviews

Based on checking the website, Therockfmc.co.uk appears to be a UK-based financial management company offering a range of services from mortgages and pensions to savings, investments, and general insurance.

While the site presents itself as a comprehensive financial planning resource, it’s crucial to understand that many conventional financial products, such as traditional mortgages, general insurance, and certain investment vehicles, often involve interest riba or elements of uncertainty gharar which are impermissible in Islamic finance.

Engaging in these activities can lead to long-term spiritual and material detriment, as Islamic teachings strongly discourage transactions that exploit or involve speculation.

For those seeking to manage their finances in a way that aligns with their faith, exploring Sharia-compliant alternatives is not just a preference but a necessity.

The conventional financial world, with its reliance on interest-based lending and speculative instruments, can lead to systemic instability and often lacks the ethical foundations that Islamic finance prioritizes.

Instead of traditional offerings, there are robust Islamic finance options that emphasize equity, risk-sharing, and ethical investment, providing a path to financial well-being that is both permissible and beneficial.

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.

Therockfmc.co.uk Review & First Look

Based on looking at the website, Therockfmc.co.uk positions itself as a “Trusted Financial Management Company” aiming to help individuals and businesses achieve their financial objectives.

The site boasts a clean, professional design, and its navigation clearly outlines the various services offered.

• Initial Impression: The overall feel is one of professionalism and accessibility. They emphasize jargon-free advice and putting clients in control of their financial future.
• Target Audience: It appears to cater to individuals and businesses in the UK and even extends to “Mortgage in Ghana,” indicating a broader reach for specific services.
• Key Messaging: The recurring theme is personalized service, exemplified by their “Five-Stage Process” for understanding client needs and making appropriate recommendations.
• Contact Information: Multiple contact methods are prominently displayed, including phone numbers 0203 674 2929, 07828346863, email [email protected], and a quick start enquiry form. This suggests a focus on client engagement.
• Founder’s Message: The CEO, Kwasi Asare Obuor-Asimpih, is featured with a personal commitment to helping clients achieve their financial goals, reinforcing the company’s client-centric approach.

However, as we delve deeper, it’s essential to scrutinize the nature of the financial products offered, especially from an Islamic perspective, to ensure they align with ethical and permissible practices.

Therockfmc.co.uk Cons

While Therockfmc.co.uk presents itself as a comprehensive financial management solution, from an Islamic ethical standpoint, there are significant drawbacks due to the nature of the services they offer.

These services largely fall under conventional finance, which often involves elements forbidden in Islam.

• Reliance on Interest Riba:

  • Mortgages UK & Ghana: The core offering of mortgages is fundamentally based on interest-bearing loans. In Islamic finance, interest riba is strictly prohibited, as it is seen as an exploitative and unjust form of wealth accumulation. A conventional mortgage involves paying back more than the principal borrowed, with the excess being the interest.
  • Savings & Investments: While some investments might seem benign, many conventional savings accounts and investment funds generate returns through interest or by investing in businesses involved in impermissible activities. This can include bonds, certain stocks, or mutual funds that do not adhere to Sharia screening criteria.
  • General Insurance: Traditional insurance often contains elements of gharar excessive uncertainty and riba interest in its underlying mechanisms. It’s a contract where the outcome is not fully certain, and often involves investments of premiums in interest-bearing assets.

• Uncertainty Gharar and Speculation:

  • General Insurance and Protection Plans: While designed to mitigate risk, conventional insurance can involve a high degree of uncertainty regarding payouts and contributions, which is problematic in Islamic transactional law. The element of speculation in such contracts makes them impermissible.
  • Equity Release: This product, while offering liquidity, often involves complex interest accrual mechanisms and can lead to significant debt that erodes home equity, potentially creating gharar and financial strain in the long run.

• Lack of Sharia Compliance:

  • The website makes no mention of Sharia-compliant financial products or services. This is a critical omission for Muslim individuals and businesses seeking ethically permissible financial solutions.
  • Without explicit adherence to Islamic finance principles, almost all the products offered—mortgages, general insurance, pensions if invested conventionally, savings, and investments—would likely be deemed impermissible.
  • Auto Enrolment Pensions: Many conventional pension schemes invest in interest-bearing instruments or industries that are not permissible e.g., alcohol, armaments, conventional banking. Participating in such schemes, even if workplace mandated, requires careful scrutiny and often an alternative Sharia-compliant option.

• Potential for Financial Entanglement in Prohibited Transactions:

  • By engaging with a conventional financial advisor, individuals might be guided towards products that, while seemingly beneficial in the short term, lead them into transactions that are spiritually harmful and ultimately detrimental to their faith.
  • The concept of “putting you in control of your financial future” through conventional means, without a framework of Islamic ethics, can inadvertently lead one down paths contrary to their values.

In summary, while Therockfmc.co.uk may offer standard financial services competently from a secular perspective, its offerings are not suitable for those adhering to Islamic financial principles.

The inherent presence of interest and uncertainty in its core products makes them impermissible, leading to long-term spiritual and financial pitfalls for a Muslim.

Therockfmc.co.uk Alternatives

For those seeking to manage their finances in a manner that aligns with Islamic principles, conventional financial advisory services like Therockfmc.co.uk, with their reliance on interest and speculative contracts, are not suitable.

The good news is that a robust and growing ecosystem of Sharia-compliant financial alternatives exists, offering ethical and permissible pathways to financial well-being.

• Islamic Banks and Financial Institutions:

  • UK Examples: Institutions like Gatehouse Bank, Al Rayan Bank formerly Islamic Bank of Britain, and United National Bank UK offer a full suite of Sharia-compliant banking products.
    • Home Financing: Instead of interest-based mortgages, they provide Ijara leasing or Murabaha cost-plus financing arrangements where the bank purchases the property and then leases it to the customer, or sells it at a mark-up with deferred payments, avoiding interest.
    • Savings Accounts: They offer Mudarabah profit-sharing or Wakala agency based savings accounts where returns are generated from ethical, Sharia-compliant investments, rather than interest.
    • Current Accounts: These are typically Qard interest-free loans or Wadiah safekeeping accounts.
  • Global Reach: Many international Islamic banks operate globally, offering similar services adapted to local regulations.

• Takaful Islamic Insurance:

  • Instead of conventional insurance, Takaful operates on principles of mutual cooperation and solidarity. Participants contribute to a fund, and in case of a loss, payouts are made from this fund. Any surplus is distributed among participants.
  • Key Providers: Look for Takaful providers in your region. In the UK, some conventional insurers may offer Takaful windows, or specialized Takaful firms might exist.
  • Types: Takaful covers various needs, including family Takaful life insurance alternative, general Takaful property, auto, and health Takaful.

• Sharia-Compliant Investment Platforms:

  • Halal Stock Screening: Platforms like Wahed Invest, Amanah Advisors, or specialized Sharia-compliant robo-advisors and brokerage firms allow investment in stocks that meet strict ethical criteria e.g., no involvement in alcohol, gambling, conventional banking, arms, etc..
  • Sukuk Islamic Bonds: These are certificates representing ownership in tangible assets or services, providing a permissible alternative to conventional interest-bearing bonds.
  • Islamic Funds: Mutual funds and ETFs specifically designed to invest in Sharia-compliant assets across various sectors.

• Ethical & Halal Financial Advisors:

  • Seek out independent financial advisors who specialize in Islamic finance. They can guide you through the complexities of Sharia-compliant investments, pension planning, and wealth management, ensuring every aspect adheres to Islamic principles.
  • These advisors often have certifications in Islamic finance and a deep understanding of Fiqh al-Muamalat Islamic commercial law.

• Community-Based Savings & Lending:

  • Qard Hasan Benevolent Loans: For small, interest-free loans within trusted communities or family networks, fostering mutual support.
  • Cooperative Models: Exploring local cooperatives or community projects that operate on profit-and-loss sharing principles rather than interest.

By choosing these Sharia-compliant alternatives, Muslims can achieve their financial goals, whether it’s homeownership, retirement planning, or wealth accumulation, while remaining firmly within the boundaries of their faith.

These alternatives not only offer ethical peace of mind but also promote economic justice and equitable wealth distribution.

How to Navigate Conventional Services if unavoidable

While the ideal is to fully transition to Sharia-compliant alternatives, sometimes individuals might find themselves in situations where they must interact with conventional financial systems, particularly in non-Muslim majority countries.

In such scenarios, the approach should be one of minimizing harm and actively seeking permissible solutions wherever possible.

• Understanding the Impermissible Elements:

  • Interest Riba: Recognize that any payment or receipt of interest is fundamentally problematic. This applies to conventional savings accounts, loans, credit cards, and many investment products.
    • Actionable Step: If receiving interest is unavoidable e.g., a small amount from a conventional current account, scholars advise donating it to charity without expecting reward, as it’s considered impure wealth. Do not consume it or use it for personal benefit.
  • Uncertainty Gharar and Speculation: Be aware of products that involve excessive uncertainty or pure gambling. This often applies to complex derivatives or highly speculative investments.
    • Actionable Step: Avoid these products entirely. Stick to investments in real assets or ethical businesses where the underlying value is clear.

• Minimizing Engagement with Interest-Based Products:

  • Conventional Credit Cards: Use them solely for convenience e.g., online purchases or travel and ensure the balance is paid in full before any interest accrues. Treat them as a deferred payment mechanism, not a borrowing tool. Avoid carrying balances.
  • Conventional Loans/Mortgages Extreme Necessity: In situations of dire necessity where no Sharia-compliant alternative exists, and fundamental needs like shelter cannot be met otherwise, some scholars have offered very limited concessions. However, this is a last resort and should be accompanied by sincere repentance and continuous effort to find a permissible solution. It is never a blanket permission.
  • Savings Accounts: If you must use a conventional bank for convenience, opt for current accounts that pay no interest, or accounts where any interest earned can be immediately identified and purified through charitable donation. Avoid high-interest savings accounts.

• Prioritizing Sharia-Compliant Alternatives for Major Life Decisions:

  • Home Purchase: This is one of the largest financial transactions for most people. Actively seek out Islamic home financing options Ijara, Murabaha even if it requires more effort or different lenders.
  • Retirement Planning: Look for Sharia-compliant pension funds or investment platforms that screen investments according to Islamic principles. Even if your workplace offers conventional auto-enrolment, check if you can opt out or redirect your investments to an ethical/Sharia-compliant fund.
  • Insurance: Explore Takaful solutions for car insurance, home insurance, and life protection rather than conventional policies.

• Seeking Knowledge and Professional Advice:

  • Educate yourself on basic Islamic finance principles. Understanding riba, gharar, maysir, and halal investment criteria empowers you to make informed decisions.
  • Consult with qualified Islamic financial scholars or advisors when in doubt. They can provide specific rulings and guidance tailored to your situation. Websites like IslamQA or local Islamic finance experts can be valuable resources.

• Continuous Effort and Intention Niyyah:

  • Maintain the sincere intention to always choose the permissible path. Even if temporarily stuck in a conventional system, the continuous effort to purify your dealings and seek alternatives is important.
  • Make dua supplication for Allah’s guidance and ease in finding halal provisions.

Navigating the conventional financial world as a Muslim requires vigilance, knowledge, and a firm commitment to Islamic principles.

It’s about consciously avoiding the forbidden and actively pursuing the permissible, even when it requires extra effort or patience.

Understanding Key Financial Concepts from an Islamic Perspective

When reviewing financial services, especially those provided by conventional firms like Therockfmc.co.uk, it’s paramount to understand how key financial concepts align or diverge from Islamic principles.

This knowledge empowers individuals to make informed decisions that adhere to their faith.

• Riba Interest:

  • Definition: Riba is essentially any excess or addition taken over and above the principal sum in a loan or debt transaction, or any unequal exchange of specific commodities like gold for gold where quantity or quality differs.
  • Islamic Stance: Riba is unequivocally prohibited in Islam, as stated in the Quran and Sunnah. It’s viewed as an exploitative practice that creates injustice, concentrates wealth, and leads to economic imbalance.
  • Impact on Services: This prohibition directly impacts conventional mortgages, personal loans, credit cards if interest accrues, and most traditional savings accounts which pay interest.
  • Alternative: Profit-sharing Mudarabah, Musharakah, Murabaha cost-plus sale, Ijara leasing, and Qard Hasan benevolent loans are permissible alternatives.

• Gharar Excessive Uncertainty/Ambiguity:

  • Definition: Gharar refers to excessive uncertainty, ambiguity, or risk in a contract, where the outcome or the subject matter is not clearly defined or is highly speculative. It’s about transactions that lack transparency or involve elements that could lead to dispute or injustice.
  • Islamic Stance: Contracts with significant gharar are generally impermissible because they can lead to exploitation, unfairness, and disputes.
  • Impact on Services: This applies to certain insurance contracts conventional insurance often has an element of gharar, highly speculative investments, and some complex derivatives where the underlying asset or future price is too uncertain.
  • Alternative: Takaful mutual insurance where risk is shared collectively, and clear, transparent investment contracts with defined assets and profit-sharing mechanisms.

• Maysir Gambling/Speculation:

  • Definition: Maysir refers to any game or transaction where the outcome is purely dependent on chance, and where one party gains at the expense of another without a commensurate exchange of value or effort.
  • Islamic Stance: Gambling is strictly prohibited as it is seen as destructive to individuals and society, fostering greed and reliance on luck rather than honest effort.
  • Impact on Services: This applies to lotteries, betting, and highly speculative financial trading where the primary motive is rapid gain through chance rather than productive investment or trade.
  • Alternative: Investment in productive, tangible assets, and ethical businesses where returns are tied to real economic activity and shared risk.

• Halal and Haram Investments:

  • Definition: Halal refers to what is permissible and lawful in Islam, while Haram refers to what is prohibited.
  • Islamic Stance: Muslims are enjoined to earn and invest in halal ways. This means avoiding industries involved in forbidden activities.
  • Impact on Services: Investments in companies deriving significant revenue from alcohol, tobacco, pornography, conventional banking/insurance, gambling, pork products, and armaments are generally considered haram. Even if a product appears interest-free, the underlying investment must be screened.
  • Alternative: Sharia-compliant equities, Sukuk Islamic bonds, ethical real estate, and investments in socially responsible businesses that adhere to Islamic ethical guidelines.

Understanding these concepts is not just academic. it’s practical.

It empowers individuals to critically evaluate financial products, even those that seem convenient or beneficial on the surface, and discern whether they align with their faith, thus avoiding long-term spiritual and ethical pitfalls.

therockfmc.co.uk Pricing and Fee Structures

Based on the information available on Therockfmc.co.uk, specific pricing and detailed fee structures are not explicitly published on the public-facing pages. This is a common practice for financial advisory services, as fees often depend on the complexity of the client’s financial situation, the specific services engaged, and the assets under management.

Instead of fixed pricing, the website mentions:

• “How We Charge” Section: There is a dedicated menu item for “How We Charge” under the “ABOUT US” section. While the direct content of this page isn’t visible without navigating there, its presence indicates that the company has a defined policy for disclosing their fees. This is standard practice in the UK for financial advisors, who are regulated to be transparent about their charges.
• “Free, no-obligation consultation”: The website prominently offers a “free, no-obligation consultation.” This suggests that initial discussions about client needs and potential service offerings are conducted without charge. The detailed fee structure would likely be discussed during this consultation, once the scope of work is determined.
• “Very affordable prices and very friendly people too.” One of the client testimonials from “Lorich Layettes and More LTD, Croydon” specifically mentions “Very affordable prices” for their accountancy services. While this pertains to accounting and not necessarily all financial planning services, it hints at a competitive pricing approach for some offerings.

General Fee Models for Financial Advisors Common in the UK:

Financial advisory firms typically employ one or a combination of the following fee structures:

1. Fee-Based Hourly or Fixed Project Fee:
   • Hourly Rate: Clients are charged for the time spent by the advisor on their case.
   • Fixed Fee: A set fee for a specific project, such as creating a financial plan, reviewing a pension, or arranging a mortgage. This is often disclosed upfront.
2. Percentage of Assets Under Management AUM:
   • For investment advisory services, advisors might charge a percentage of the total assets they manage for the client e.g., 0.5% to 1% annually. This model aligns the advisor’s success with the client’s investment growth.
3. Commission-Based:
   • Historically, advisors earned commissions from product providers e.g., insurance companies, investment firms for selling their products. While this model is less prevalent for independent financial advice in the UK since regulatory changes Retail Distribution Review, some services like general insurance or certain mortgage brokers might still involve commission from lenders.
4. Hybrid Model:
   • A combination of the above, such as a fixed fee for initial planning and then a percentage of AUM for ongoing investment management.

Implications from an Islamic Perspective:

Regardless of the specific fee model, the primary concern from an Islamic perspective isn’t how the advisor charges, but rather what services they are charging for and the nature of the underlying financial products. If Therockfmc.co.uk’s fees are associated with facilitating interest-based mortgages, conventional insurance, or investments in non-Sharia-compliant assets, then engaging their services becomes problematic.

• Permissible Fees: Charging a fee for advice itself e.g., for creating a financial plan or consultancy is generally permissible in Islam, as long as the advice leads to permissible transactions.
• Impermissible Outcomes: If the fee is tied to or directly facilitates transactions involving riba, gharar, or maysir e.g., receiving a commission for arranging an interest-based loan, then the fee itself becomes tainted by the impermissible nature of the transaction.

Therefore, while Therockfmc.co.uk’s fee structure is not explicitly stated, any potential client from a Muslim background would need to inquire deeply into how their services are charged and, more importantly, ensure that the recommended financial products are fully Sharia-compliant to avoid engaging in forbidden transactions.

For a Muslim, even “affordable prices” for impermissible services carry a significant hidden cost in terms of spiritual well-being.

Importance of Halal Financial Planning and Wealth Management

In an age where financial complexities abound, the importance of deliberate and ethical financial planning cannot be overstated for a Muslim.

It transcends mere economic gain, linking directly to spiritual well-being and adherence to divine commandments.

Engaging in halal financial planning and wealth management ensures that every aspect of one’s financial life – from earning to spending, saving, and investing – aligns with Islamic principles.

• Fulfillment of Religious Obligations:

  • Avoiding Riba Interest: The prohibition of interest is one of the most emphasized aspects of Islamic finance. Engaging in halal planning means actively seeking alternatives to interest-based loans, mortgages, and savings, thereby fulfilling a fundamental religious duty and avoiding severe spiritual penalties.
  • Avoiding Gharar Excessive Uncertainty & Maysir Gambling: Halal finance encourages clear, transparent, and fair transactions, steering clear of speculative dealings and contracts fraught with ambiguity, which can lead to exploitation and injustice.
  • Zakat & Sadaqah: Proper financial planning includes calculating and paying Zakat obligatory charity on wealth and earnings, and encouraging Sadaqah voluntary charity. This ensures wealth purification and distribution, fostering social welfare.

• Ethical and Responsible Investing:

  • Conscious Capital: Halal wealth management promotes investing in ethical and socially responsible businesses that contribute positively to society. This means avoiding industries involved in alcohol, gambling, pornography, conventional arms, and interest-based finance.
  • Real Economy Focus: Islamic finance emphasizes investing in tangible assets and real economic activities, rather than speculative financial instruments. This contributes to sustainable economic growth and job creation.
  • Environmental, Social, and Governance ESG Alignment: Many principles of Islamic finance naturally align with modern ESG investing, focusing on environmental stewardship, social equity, and good corporate governance.

• Financial Security and Stability Barakah:

  • Blessed Wealth: While wealth accumulation is permissible, its source and how it’s used are critical. Halal earnings and investments are believed to carry Barakah blessings, leading to true prosperity and contentment beyond mere monetary value.
  • Debt Avoidance: The emphasis on ethical borrowing and the prohibition of interest naturally encourages prudent financial behavior, discouraging excessive debt and promoting financial stability.
  • Long-Term Vision: Halal planning often involves a long-term perspective, focusing on intergenerational wealth transfer through permissible means like endowments waqf and proper inheritance planning fara’id.

• Peace of Mind and Spiritual Tranquility:

  • Knowing that one’s financial dealings are in harmony with one’s faith brings immense spiritual peace. It removes the burden of engaging in transactions that are perceived as disobedient or harmful.
  • This tranquility allows individuals to focus on their higher purpose without the constant anxiety of illicit earnings or investments.

• Building a Just Society:

  • By participating in halal financial systems, individuals contribute to the growth and development of an ethical economic model that prioritizes fairness, social responsibility, and equitable distribution of wealth, benefiting the wider community.

In conclusion, for a Muslim, financial planning is not merely about accumulating wealth but about managing it as a trust from Allah.

It’s a holistic approach that integrates faith with finance, ensuring that every financial decision is a step towards spiritual and material well-being, both in this life and the Hereafter.

Opting for conventional financial services like Therockfmc.co.uk without careful Sharia screening can inadvertently lead to entanglement in impermissible transactions, underscoring the critical need for seeking out dedicated halal financial advisors and institutions.

How to Find a Halal Financial Advisor or Institution

Finding a financial advisor or institution that truly adheres to Islamic principles requires diligence and knowing what questions to ask.

The goal is to ensure not just surface-level compliance but a deep commitment to Sharia ethics in every aspect of their operations.

1. Look for Explicit Sharia Compliance:

   • Certification/Accreditation: Check if the advisor or institution is certified by a recognized Sharia Supervisory Board SSB or has a Sharia Advisor. An SSB is a panel of Islamic scholars who review and approve financial products and operations for compliance.
   • “Islamic Finance” or “Sharia-Compliant” Branding: While not always a guarantee on its own, it’s a good starting point. Look for clear statements on their website or marketing materials indicating their adherence to Islamic finance principles.
   • Membership in Islamic Finance Bodies: See if they are members of reputable Islamic finance associations or organizations e.g., Accounting and Auditing Organization for Islamic Financial Institutions – AAOIFI, Islamic Financial Services Board – IFSB.

2. Inquire About Product Mechanisms:

   • Mortgages: Ask specifically about how their home financing works. They should offer solutions like Ijara leasing, Murabaha cost-plus sale, or Diminishing Musharakah co-ownership with gradual acquisition, explicitly not conventional interest-based loans.
   • Savings/Investments: How are returns generated? They should be based on profit-sharing Mudarabah/Musharakah from real economic activity, not fixed interest payments. Inquire about the underlying assets they invest in e.g., real estate, ethical businesses, Sharia-compliant equities.
   • Insurance: Ask if they offer Takaful, which operates on mutual cooperation and donation, pooling funds for risk sharing, rather than conventional insurance.
   • Pensions: How are pension funds invested? They must be screened to exclude impermissible industries alcohol, gambling, conventional banking, etc..

3. Understand Their Screening Process:

   • For investments, ask about their Sharia screening methodology. How do they ensure that the companies they invest in for stocks, funds, etc. comply with Islamic guidelines regarding business activities, debt levels, and interest income?
   • Who performs the screening? Is it an internal Sharia committee or an external, independent scholar?

4. Review Their Transparency and Governance:

   • Annual Sharia Audit: Do they conduct annual Sharia audits to ensure ongoing compliance, overseen by their Sharia Supervisory Board?
   • Reporting: How transparent are they about their financial performance and the Sharia compliance of their products?
   • Advisory Board: Is information about their Sharia scholars or advisory board publicly available?

5. Seek Recommendations and Do Due Diligence:

   • Community Referrals: Ask trusted community leaders, imams, or fellow Muslims who have successfully navigated Islamic finance.
   • Online Reviews and Forums: While not always definitive, online reviews specific to Islamic finance products can offer insights into customer experiences.
   • Direct Questions: Don’t be afraid to ask direct, probing questions about their Sharia compliance. A genuinely halal institution will be happy to explain their processes.

6. Consider Their Regulatory Status:

   • Ensure they are properly regulated by the relevant financial authorities in your country e.g., Financial Conduct Authority – FCA in the UK. This ensures consumer protection and ethical business practices within the broader regulatory framework.

By applying these criteria, you can sift through conventional offerings and identify financial advisors and institutions that are genuinely committed to providing permissible and ethical financial solutions, helping you manage your wealth in accordance with your faith.

Frequently Asked Questions

What is Therockfmc.co.uk?

Based on looking at the website, Therockfmc.co.uk is a financial management company based in the UK, offering a range of services including mortgages, pensions, savings & investments, protection plans, general insurance, equity release, wills, and accountancy services.

Does Therockfmc.co.uk offer Sharia-compliant financial products?

No, based on the services listed on their website, Therockfmc.co.uk primarily offers conventional financial products such as interest-based mortgages and traditional insurance, which are not Sharia-compliant.

What are the main services provided by Therockfmc.co.uk?

The main services listed on their website include mortgages UK and Ghana, pensions, protection plans, savings and investments, general insurance, long-term care, equity release, wills & trusts, auto enrolment, and accountancy services.

Is a conventional mortgage from Therockfmc.co.uk permissible in Islam?

No, a conventional mortgage typically involves interest riba, which is strictly prohibited in Islam.

For Muslims, Sharia-compliant alternatives like Ijara or Murabaha financing should be sought.

How does Therockfmc.co.uk charge for its services?

While specific pricing is not published on their public pages, Therockfmc.co.uk mentions a “How We Charge” section and offers a “free, no-obligation consultation,” indicating that fees are discussed directly with clients and may be based on fixed fees or asset management.

What are the ethical concerns for a Muslim with Therockfmc.co.uk’s offerings?

The primary ethical concerns are the involvement of interest riba in mortgages and savings, excessive uncertainty gharar in conventional insurance, and potential investment in non-halal industries through their investment and pension services.

Are there halal alternatives to the services offered by Therockfmc.co.uk?

Yes, there are numerous halal alternatives, including Islamic banks like Gatehouse Bank or Al Rayan Bank for mortgages and savings, Takaful providers for insurance, and Sharia-compliant investment platforms for pensions and investments.

What is Riba, and why is it forbidden in Islam?

Riba is any excess or addition taken over and above the principal sum in a loan or debt transaction.

It is forbidden in Islam because it is considered exploitative, unjust, and leads to economic imbalance. Southernconservatoryvalet.co.uk Reviews

What is Gharar, and how does it relate to conventional insurance?

Gharar refers to excessive uncertainty or ambiguity in a contract.

Conventional insurance often contains gharar because the outcome payout is uncertain, and premiums may be invested in interest-bearing assets, making it problematic in Islamic finance.

Can I still use Therockfmc.co.uk for financial advice if I’m a Muslim?

While you could theoretically receive general advice, it’s crucial to ensure that any recommended products or strategies are strictly Sharia-compliant.

It would be safer to seek advice from an advisor specializing in Islamic finance.

Does Therockfmc.co.uk offer services in Ghana?

Yes, the website specifically lists “MORTGAGE IN GHANA” as one of their services, indicating they cater to clients seeking mortgages in Ghana.

How can I get a consultation with Therockfmc.co.uk?

You can get a free, no-obligation consultation by filling out their “Quick Start Form” on the website, or by contacting them via phone at 0203 674 2929 or 07828346863, or email at [email protected].

What is auto enrolment, and is it permissible in Islam?

Auto enrolment is a UK government initiative requiring employers to automatically enroll eligible workers into a workplace pension scheme.

Its permissibility in Islam depends on how the pension fund is invested.

If it’s in non-Sharia-compliant assets, it would be problematic.

What kind of “Protection” plans does Therockfmc.co.uk offer?

Their “Protection” services likely include various types of insurance, such as life assurance, critical illness cover, and income protection, which in conventional finance often involve elements contrary to Islamic principles. Vanroofrack.co.uk Reviews

What is Equity Release, and is it permissible in Islam?

Equity Release allows homeowners to unlock equity from their property without selling it.

It often involves complex interest accrual and can be problematic from an Islamic perspective due to its interest-based nature and potential for increased debt.

Does Therockfmc.co.uk help with Wills and Trusts?

Yes, Therockfmc.co.uk states they provide services for Wills & Trusts, which is crucial for estate planning, though the underlying assets and distribution methods must still adhere to Islamic inheritance laws Fara’id.

Are the accountancy services offered by Therockfmc.co.uk Sharia-compliant?

Accountancy services themselves are generally permissible, as they involve managing financial records.

However, if the business being accounted for engages predominantly in impermissible activities, or if the advice leads to engaging in riba-based transactions, then it becomes problematic.

Who is the CEO of The Rock Financial Management Company?

The CEO and Independent Financial Consultant is Kwasi Asare Obuor-Asimpih, whose profile is featured on the website.

How do I contact Therockfmc.co.uk?

You can contact them by phone at 0203 674 2929 or 07828346863, or by email at [email protected]. They also have an enquiry form on their website.

What should a Muslim look for in a financial advisor instead of a conventional one like Therockfmc.co.uk?

A Muslim should look for advisors explicitly advertising Sharia-compliant services, who have a Sharia Supervisory Board or certified Islamic finance scholars, and who can explain how all products and investments avoid riba, gharar, and maysir, and invest only in halal industries.

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