ShariaPortfolio PPP - Personal Pension Plan

ShariaPortfolio Canada Inc. is the Canadian arm of a group that has been managing halal money since 2003, when Naushad Virji founded ShariaPortfolio in Florida. Virji led the expansion into Canada in 2017 and remains CEO of the Canadian entity and chairman of the group, which spans ShariaPortfolio USA (a fee-only SEC-registered adviser), ShariaPortfolio Canada, SP International (global clients since 2020), and SP Funds - the ETF business behind SPUS and SPSK, North America's largest Sharia-compliant fund family. The Canadian firm operates from two offices: 225 Leslie Street in Richmond Hill, Ontario and 885 West Georgia Street in Vancouver, BC (contact page, 2026-08-05).

The service is classic discretionary wealth management with a halal constraint set. Portfolios are built from Shariah-screened stocks, Islamic ETFs and sukuk - never preferred shares, conventional bonds or interest-paying securities - using a core-satellite approach: core holdings mitigate active risk while stock and sector selection add active return. Clients choose active or passive managed solutions, and the firm assigns standard models by risk, return and life-cycle objectives. The account menu is the broadest halal lineup in Canada: RRSP, TFSA, RESP, RRIF, LIRA, FHSA, non-registered personal and joint accounts, and IPP and PPP pension structures for incorporated professionals. Custody sits with Fidelity Clearing Canada ULC, which participates in the Canadian Investor Protection Fund.

Pricing is fee-only: 0.5% to 1.5% of portfolio value annually depending on assets and service type, with no mutual fund commissions accepted - stated plainly in the firm's FAQ. Account minimums are not published on the Canadian site; the US affiliate's advised Access program starts at USD $100,000, so Canadians should confirm the local threshold in consultation. The homepage claim worth noting verbatim: 'Canada's only licensed Portfolio Management firm fully dedicated to Sharia-compliant investing' - a company claim we have not independently verified against provincial registration databases, though the advisors serve clients in BC, Alberta, Ontario and Quebec per the site (2026-08-05).

Shariah governance follows the group template. All portfolios are managed to AAOIFI rules: a business-activity screen excludes companies deriving more than 5% of income from alcohol, tobacco, gambling, pork, adult entertainment, weapons, interest-based businesses, highly leveraged businesses, and - stricter than most peers - music, cinema and broadcasting; financial-ratio screens cap interest-bearing debt at 30-33% of market capitalization. The Canadian site publishes a viewable Sharia certificate. The honest gap is the same one the US parent carries: no standing multi-member Shariah supervisory board is named anywhere, with religious oversight anchored by Shaykh Umer Khan, the group's Sharia Advisor since October 2022 - a mufti with ifta' from Darulifta Birmingham and a Wharton Master's in Finance. The Canadian team - CEO Virji, chief compliance officer and portfolio manager Irfan Chaudhry (CFA, CAIA), and advisors including Anis Rahman and Siddiq Mohamed - fronts client service and education, not religious rulings.

Who is this for? The fee proposition only makes sense if you value what DIY cannot buy: a human advisor who understands zakat, purification and faraid alongside RRSP meltdown strategy; halal management inside wrappers no robo or ETF covers (FHSA, IPP, PPP, LIRA); and one relationship consolidating a family's accounts. Self-directed investors with a TFSA and simple goals will do the math and buy SPUS or WSHR directly. The firm seems comfortable with that split - its webinars and free consultations are pitched at households whose financial lives have outgrown a single ticker.