Tax Free Savings Account

For our Access wealth management service, the minimum initial amount is $100,000. Access level clients get year-round access to financial professionals and receive personalized portfolios that include both stocks and funds. Please note that the minimum can include several accounts with ShariaPortfolio, (ie. Cash Account, a RRSP and a RESP). Our advisers look forward to working with you to achieve your financial goals! 

We understand the importance of starting a saving and investment program even if one’s financial means are currently modest.  The Express service is designed for such investors, offering managed account starting at a minimum of $1000.   Because of the low dollar value of these accounts, portfolio investments will be simpler and will typically require less ongoing oversight and review.  Nevertheless, your account will be overseen by a licensed portfolio manager.

We charge an annual fee of between .5 to 2% of the value of the portfolio, depending on the amount of assets being managed and the type of service provided. Unlike many other advisers, we do not accept commissions from mutual fund companies. 

Your portfolio will be held with Fidelity Clearing Canada ULC, a custodian that is registered with the Investment Industry Regulatory Organization of Canada and, participates in the Canadian Investor Protection Fund. a fund set up to ensure client assets.  Fidelity Clearing Canada ULC is part of the Fidelity group of companies that handles over $10 trillion dollars of customer assets world wide

The Sharia guidelines are based on the rules determined by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), a global Islamic finance standards-setting body, governed by an international panel of highly respected Sharia scholars. 

Asset classes
Only stocks, sukuks and Islamic ETFs are eligible for Shariah-compliance consideration. Preferred shared are considered to be non-compliant.

Business activities screens
Companies are only to be considered compliant from a business perspective if the cumulative revenue from non-compliant activities and non-operating interest income does not exceed 5% of their total income. Non-compliant income sources include the following: 

We rely on the Sharia rules defined by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), a global Islamic finance standards-setting body, governed by an international panel of highly respected Sharia scholars. Learn more at https://aaoifi.com/ 

ShariaPortfolio Canada offers a comprehensive solution to investing that includes a variety of Sharia-compliant stocks and funds.  ShariaPortfolio employs a core satellite approach in investing, where active returns are generated by stocks and sector selection and active risk is mitigated by core holdings. It takes a value based, hands-on approach in selecting high conviction securities as satellites for the portfolios. Buying or selling of stocks, sukuks, commodities or ETFs is based on target price and fundamental discipline.  ShariaPortfolio’s portfolio managers take a proactive approach to assign a standard portfolio according to the client’s risk, return and life cycle objectives. Standard models are managed by ShariaPortfolio to achieve the returns with a designated level of risk. 

Investments containing only ETFs are designed to parallel the returns of a particular market index or benchmark as closely as possible. For example, each stock listed on the S&P 500 Shariah Industry Exclusions Index (SPSIEUP) is weighted. That is, it represents a percentage of the index that is commensurate with its size and influence in the real world. An exchange traded fund ETF, for example SPUS (which tracks SPSIEUP), will use the same weights.  This is passive portfolio management and its objective is to generate a return that is the same as SPSIEUP index. The strategy requires a buy-and-hold mentality.  Because this investment strategy is not proactive, the management fees are lower than active management strategies. 

Our USA affiliate, ShariaPortfolio, started in 2003 and was one of the first sharia-compliant wealth managers in the USA with clients nationwide.  In 2019, SP Funds (another affiliate) lunched two Exchange Traded Funds (ETFs) which are listed on the NYSE.  ShariaPortfolio Canada was officially launched in January 2020.