Build wealth with a smart portfolio that complies with Islamic law.
Our Halal Investing portfolio is a simple and low-cost way to grow your money. Your portfolio is optimized not only for performance, but for companies and investments that comply with Islamic laws. Learn more about the companies we invest in and how they are screened.
All investments are screened by a third-party committee of Shariah scholars
No investment in companies that profit from gambling, arms, tobacco, or other restricted industries
No businesses that derive significant income from interest on loans
The Halal Investing portfolio includes 50 stocks selected to track the market as closely as possible and optimize for diversification. Your money is invested in companies around the world to minimize risk and maximize reward.
Not sure which accounts are right for you? We'll help you choose.
Our most common retirement account that lets you avoid taxes and pay them after you retire.
A popular savings account that lets you avoid taxes on the gains you make over time.
Our most common taxable account for the extra money you want to invest after maxing out your RRSP and TFSA.
Help save money for a child's education while lowering tax burden and taking advantage of government matching.
For those 71 years of age and older, who would like to convert their RRSP account.
If you have a pension from a former employer but are not yet retired.
For accounts with multiple owners, such as married couples and business partners.
For business owners that want to take advantage of lower corporate income tax rates.
Are you paying higher fees elsewhere on your RRSP, TFSA, or other accounts? You don’t have to. Transfer any accounts with more than $5,000 to Wealthsimple and we’ll cover the transfer fees the other company charges you.
Your security and trust are important to us. We're committed to protecting your account with the highest standards of security available.
Over $3B and counting - More than 100,000 people trust over $3 billion with Wealthsimple companies
Everything is encrypted - We use state-of-the-art data encryption when handling your financial information and two-factor authentication (2FA) protection
Insurance and protecion - All of our accounts have standard insolvency and deposit protection
Powerful backing - Wealthsimple is backed by $165M in investment from the Power Financial Group
Deposit $0 - 100k
Wealthsimple Invest – 0.5% fee
Wealthsimple Save – 2.0% interest
Wealthsimple Trade – $0 trading fees
Expert financial advice
All Basic plan features
Wealthsimple Invest - 0.4% fee
Financial planning session
Tax loss harvesting
Tax efficient funds
VIP airline lounge access
All Black plan features
In-depth financial planning
Dedicated team of advisors
Personalized financial report
50% off Medcan health plan
Of course! Anyone who is a suitable investor can invest in this portfolio.
Wealthsimple has one version of the Halal Investing portfolio and it can't be customized. We've built a fully diversified portfolio of stocks that complies with Shariah law, constructed by the expert team at MSCI.
We charge the same fees as for our halal portfolio as we do for our regular and socially responsible portfolios: 0.5% up to $100,000, and 0.4% over $100,000. Plus, you get an additional $10,000 managed free for every friend you refer to Wealthsimple!
Halal investing is investing in companies that are in line with Islamic principles of investing. A lot of conventional investment products aren't compliant. For example, profiting off debt is prohibited, so bonds and GICs are off the table for observant muslims. Additionally, halal investing prohibits businesses that profit off certain activities, including alcohol, tobacco, gambling, pork, and weapons, among others.
We use the MSCI Islamic Index Series Methodology to exclude non-Sharia-compliant securities through business activity screening and financial ratio screening. The methodology is approved by MSCI’s Sharia advisors’ committee of Sharia scholars. You can learn more here.
No, it uses individual stocks rather than ETFs. But the process we use to construct our Halal Investing portfolio is very similar to an ETF, which tracks a market index as a whole, rather than trying to pick stocks. The Halal investing portfolio includes 50 stocks selected to track the broad market as closely as possible to maximize our clients' diversification, while complying with Islamic law. See the entire list of stocks here.
Wealthsimple's other portfolios use fixed income (bonds) to lower the overall risk of a portfolio for balanced and conservative investors. Islamic investing principles exclude fixed income, so the Halal Investing portfolio is an all equity portfolio. Equity is more volatile than fixed income, so it is a higher risk Growth portfolio. We recommend keeping more of your assets in cash if you're investing in the Halal Investing portfolio, and speaking with one of our portfolio managers if you have any questions.