Meezan Wealth Review 2026: Super, Invest, Ijarah

Meezan Wealth is a Sydney-based Islamic financial advice and broking firm, not a superannuation fund, a fund manager or a lender. Its Islamic super is an advised portfolio inside Super Simplifier, an APRA-regulated fund whose trustee is Equity Trustees Superannuation Limited; Meezan Invest is a managed account run under Lifespan Financial Planning's licence; and its Ijarah home finance and Al-Mustaqbal SMSF finance are brokered from funders the website never names. On fees it publishes more than most Australian Islamic brokers: 0.71% portfolio management, 0.352% super administration and 0.05% expense recovery for super, and 1.35% a year for Meezan Invest. On Shariah governance it names IdealRatings, ISRA Consulting and SRA Consulting but no individual scholar. This review goes product by product through what Meezan publishes, what the Super Simplifier disclosure documents add, and where the gaps are, checked against meezanwealth.com.au and dash.com.au on 20 October 2026.

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What Meezan Wealth is, and what it is not

Three licences sit behind the Meezan Wealth brand. Meezan Invest Pty Ltd is corporate authorised representative 001301389 of Lifespan Financial Planning Pty Ltd (AFSL 229892), which covers the super advice and the Meezan Invest managed account. Meezan Finance Pty Ltd is credit representative 529817 of Kuone Pty Ltd trading as 360 MMS (Australian credit licence 504193), which covers the Ijarah home finance and the SMSF finance. The super money sits in Super Simplifier, a fund established under a trust deed dated 24 August 2022 with USI 36 526 795 205 001, whose trustee is Equity Trustees Superannuation Limited (AFSL 229757, RSE licence L0001458) and whose promoter and administrator is DASH. Meezan advises on the portfolio; it does not hold the money, run the fund or write the finance contracts. The firm calls itself "Australia's premier Islamic Wealth Management" and claims 5,000 or more Muslim clients served; its funds-under-management counter renders as zero in a plain fetch, so that claim cannot be verified from the site. Our registry records 2020 as the founding year of the current entities.

Meezan Islamic Super: how it works inside Super Simplifier

A member opens a Super Simplifier personal super account, Meezan is recorded as the adviser, and Lifespan's managed discretionary account (MDA) service holds a Shariah-screened managed portfolio inside it. The Super Simplifier PDS dated 1 October 2026 describes a platform with an approved products list of listed securities, managed funds and managed portfolios from which an adviser builds the member's holdings. For a Muslim member that means an independent trustee, APRA regulation and visibility of every holding. Meezan's page promises a fee "comparable to an Industry Super fund" and lists salary sacrifice, personal contributions, beneficiary nominations, optional death, TPD, trauma and income protection cover, and conversion to an account-based or transition-to-retirement pension. The PDS confirms cover is available to members aged 15 to 60 who meet residency tests. Our halal superannuation guide explains how an advised platform differs from a pooled option such as Salaam Super.

Fees: what Meezan publishes and what the PDS adds

Meezan publishes four percentages: 0.71%, 0.35%, 0.16% and 0.03% a year, with a footnote that the portfolio management fee "includes MDA Management fee and Adviser services fee" and that establishment, contribution, withdrawal and exit fees are nil. Read against the PDS, those are the 0.71% portfolio management fee collected through the advice-fee mechanism, the 0.352% administration fee charged on the first $500,000 of an account, the 0.16% administration fee for non-super accounts, and the expense recovery fee. The last figure is stale. A DASH Significant Event Notice dated 31 August 2026 raised expense recovery from 0.03% to 0.05% a year from 1 October 2026, which on a $50,000 account is $25 instead of $15, and added a listed security transaction fee of 0.33% of trade value capped at $3.30 a trade on top of brokerage. Two further PDS items matter: the percentage administration fee is capped for family groups of up to six members at $3,630 a year, and fees inside any managed fund or ETF the portfolio holds are additional to the platform fees, so 0.71% covers Lifespan's management and Meezan's advice, not the underlying product costs.

The table applies the published figures to a $100,000 accumulation balance and compares the two pooled Islamic options in our registry on the same basis; the Hejaz figures are its published 2025 table and that fund was paused to new members at our August 2026 check.

Fee line on $100,000	Meezan Islamic Super (Super Simplifier)	Salaam Super Growth	Hejaz Islamic Super Growth (paused)
Investment or portfolio fee	0.71% = $710 (underlying fund costs extra)	1.34% = $1,340 (all-in estimate)	1.00% = $1,000
Administration	0.352% = $352 on first $500,000	0.21% = $210 plus $60	0.49% = $490 plus $65
Expense recovery or transaction costs	0.05% = $50 from 1 October 2026	0.03% = $30	0.05% = $50
Cash management fee	Up to 1.50% on the required cash balance (about $30 on $2,000)	Not separately disclosed	Not separately disclosed
Approximate annual total	About $1,142 before underlying fund costs	About $1,640	About $1,605
Entry, exit, switching fees	Nil	Nil	Not stated

On that arithmetic Meezan is cheapest of the three on paper, but only if the portfolio is built mainly from direct shares rather than managed funds. The ASIC Moneysmart guide to choosing a super fund shows the stakes: its example has a 30-year-old on $50,000 with a $20,000 balance ending with $81,000 more at 65 by moving from 2.5% to 1% in total fees for the same performance. Ask Meezan for the total cost of the actual portfolio, underlying fund fees included, before comparing it with anyone else.

Performance and the cash account

The super page shows 8.9% and 7.9% for the twelve months to 30 June 2025 against what the layout presents as Growth and Balanced options; the Defensive number did not render in our fetch, and our August 2026 crawl recorded it as 6.4%. The footnote reads "Not earnings rate", which we read as a mislabelled net earnings rate, and no multi-year or benchmarked series is shown. The Islamic portfolios only date from July 2021. Request the Lifespan fact sheet with dated, benchmarked returns before relying on any of it.

Super Simplifier also requires every account to hold the greater of 2% or $2,000 in a Cash Account that earns interest linked to the official cash rate after a cash management fee of up to 1.50% a year, and the trustee can sell investments to restore that minimum. The Meezan Invest page is candid that "the portfolio will also have a small allocation to cash which will pay a small amount of interest" and that this is non-permissible and handled through purification; the super page does not say so, but the same mechanics apply. A member on $100,000 therefore holds about $2,000 in an interest-bearing account at all times. It is purified and it is small, but it is not zero. Our explainer on halal super and the cash problem sets out why every Australian Islamic super option faces a version of this.

Shariah governance: IdealRatings, ISRA and SRA, but no named scholar

IdealRatings screens the universe of global equities, REITs and selected ETFs under a Shariah rulebook agreed with ISRA International Consulting Sdn Bhd, which the site describes as its Shariah adviser certifying the final portfolio. The rulebook is AAOIFI-based: companies are excluded by activity (adult entertainment, alcohol, cinema, conventional financial services, defence, gambling, music, pork and tobacco), non-permissible income must not exceed 5% of total income, fixed-income preferred shares are excluded, and ETFs are screened constituent by constituent with a non-compliant weight threshold the page gives as an example of 33%. A separate heading names "our world class sharia board" as SRA Consulting of Malaysia. No individual scholar is named anywhere on the site and no super-specific certificate is published. Our guide on how AAOIFI screening works explains each test.

Purification is where Meezan is genuinely ahead of its peers. The Meezan Invest page publishes the method: each holding's dividend is multiplied by its purification ratio, with worked figures of 3.31% for Apple, 0.46% for Goodman Property Trust and 0.5% for an iShares biotechnology ETF, summed per asset class and scaled across portfolios when Lifespan runs the process quarterly, after which investors are written to with the amount to donate. That is a reproducible process rather than a promise. Our dividend purification guide shows how to run the same calculation yourself.

Meezan Invest: a managed account at 1.35% with a $5,000 minimum

Meezan Invest is a separately managed account, so the investor is beneficial owner of every security and sees each holding in a portal or app. Published terms: 1.35% a year management fee, $5,000 minimum, no setup, entry, exit or transfer fees, a year-end tax report, and eligibility for individuals, companies, SMSFs and trusts. The single live portfolio, Meezan Islamic Growth, targets CPI plus 4.5% over a suggested six-year horizon by holding mostly growth and alternative assets: Australian and international shares, ETFs, property and infrastructure, alternatives and gold. The page invites investors to "choose from 2 diversified investment portfolios" while the second has been marked coming soon since at least August 2026, and no holdings list, performance history or benchmark is published. Lifespan states plainly that because a compliant portfolio cannot hold conventional fixed interest, the defensive sleeve is replaced with gold, commodities, REITs and extra equities, so the portfolio "will carry a higher risk and experience higher volatility than a standard portfolio". Our guide to halal managed funds in Australia compares Meezan Invest with the MCCA, Hejaz and ICFAL options.

Ijarah home finance: brokered lease-to-own from an unnamed funder

Meezan's home finance page describes a lease-to-own Ijarah: "the property is purchased on behalf of the client and the client leases it from the financier by the mode of regular rental repayments, with the view of taking legal ownership of the property once the payment terms have been met." Its comparison table states that legal title is held by the client as agent of the financier, who transfers ownership once the final instalment is paid, and that the rental rate is variable, set in periods of one to five years, for terms up to 30 years. The page asserts the contract conforms to the National Consumer Credit Protection Act 2009. Our registry adds purchase, refinance, investment-property and low-doc pathways, 90-day pre-approvals and FBAA membership.

What is missing is what is missing from most brokered Islamic home finance in Australia. The funder is never named, no current rental rate, fee schedule or maximum finance-to-value ratio is published, and the Shariah certificate PDF our August 2026 crawl recorded is a scan whose signatories cannot be read. A stale "from 2.68% (var)" claim was still live on the investment-property page at that crawl, so treat any rate on the site as unmaintained and get the current rental rate, fees and the funder's name in writing. For the structural questions to ask, see Ijarah versus diminishing musharakah.

Al-Mustaqbal SMSF finance: shared with Riyadh FS, published terms now thinner

Meezan's SMSF product is sold under the Al-Mustaqbal name, which also appears at Riyadh FS under the same Kuone credit licence, pointing to a shared white-label product. The structure is a musharaka through a bare trust: the SMSF's corporate trustee contributes the deposit, the financier funds the balance, the fund receives the rental rights, and payments include principal plus a profit-share "dividend" to the financier on its remaining share. Our August 2026 crawl recorded published terms of $250,000 to $2,000,000 against residential security, finance-to-value up to 80%, terms to 30 years and purposes of purchase, refinance and equity cash-out. On 20 October 2026 the live page no longer displayed that table. It now presents residential and commercial SMSF finance in general terms, with an FAQ recommending at least $150,000 in cash and shares in the fund, accepting new SMSFs that can show contribution history, and excluding development sites, vacant land and multi-title purchases on one contract.

Two conflicts are worth raising before you sign. Riyadh's version states that SMSF refinance is not available, while Meezan's earlier table listed refinance as a purpose. And Meezan advertised an "offset account and redraw facility" without explaining how an offset works without interest, which Riyadh's page explicitly disclaims. On the super law side, the ATO's SMSF investment restrictions are the governing text: a fund generally must not borrow, acquire assets from related parties or breach the in-house asset rules, and business real property leased to a member's business at arm's length is the main exception. Our Islamic SMSF property finance guide compares the Meezan, Riyadh, Hejaz, MCCA and Ijarah Finance versions of this structure.

The 2026 numbers every Meezan client should know

Because the super proposition is advice-led, the contribution rules matter more than for a set-and-forget fund. The ATO's contributions caps page, updated 11 September 2026, and its super guarantee page give the current settings, and the APRA statistics released 31 August 2026 size the system. Unused concessional cap can be carried forward for five years if your total balance was under $500,000 on the prior 30 June, which an adviser-led arrangement should be using.

2026-27 setting	Figure	Source
Super guarantee rate	12.00%, paid each payday under Payday Super from 1 July 2026	ATO, super guarantee page
Concessional contributions cap	$32,500 (was $30,000 to 30 June 2026)	ATO, contributions caps, 11 September 2026
Non-concessional contributions cap	$130,000	ATO, contributions caps
General transfer balance cap	$2,000,000	ATO, contributions caps
Maximum super contribution base	$270,830 a year	ATO, super guarantee page
Total Australian super assets	$4,767.2 billion at 30 June 2026, of which $1,107.2 billion in SMSFs	APRA, 31 August 2026
Super Simplifier expense recovery	0.05% from 1 October 2026 (was 0.03%)	DASH SEN, 31 August 2026

Checklist before you sign with Meezan

Ask for the total cost of the proposed super portfolio in dollars on your balance, including underlying fund and ETF fees, the 0.71%, 0.352% and 0.05% platform lines and the cash management fee.
Request a dated performance fact sheet for each portfolio with a named benchmark, since the website's returns are unlabelled and single-year.
Ask which scholar or committee at ISRA Consulting or SRA Consulting reviews the portfolios, and request the latest certificate; none is published for super.
For Ijarah home finance, obtain the funder's name, current rental rate and fee schedule in writing before paying any application fee.
For SMSF finance, confirm the current finance range, finance-to-value limit, whether refinance is permitted, and how any offset facility works without interest.

Our view

Meezan Wealth is the most transparent advised Islamic super arrangement in Australia on fees and purification, and the least transparent on who signs off the Shariah compliance. The Super Simplifier structure is sound: an independent APRA-regulated trustee, visible holdings, nil transaction-type fees, a family fee cap, and a platform fee stack that on $100,000 comes in several hundred dollars under Salaam Super before underlying fund costs. Against that, no scholar is named, no super certificate is published, the website's returns are unlabelled, it still quotes an expense recovery figure that changed on 1 October 2026, and the home and SMSF finance lines are brokered from funders Meezan will not name. If you want an adviser to build and purify a halal portfolio inside a regulated platform, and will pay roughly 1.1% plus underlying costs for it, Meezan is a credible choice. If you want a named Shariah board and a published certificate, Salaam's Dar Al Sharia audit is better documented, at a higher fee. For home or SMSF finance, treat Meezan as a broker: funder, rate, fees and certificate in writing. Facts checked against meezanwealth.com.au, dash.com.au, ato.gov.au and apra.gov.au on 20 October 2026.

Frequently asked questions

Is Meezan Wealth a super fund?

No. Meezan Wealth is a financial advice firm operating as a corporate authorised representative of Lifespan Financial Planning (AFSL 229892). Its Islamic super is a Shariah-screened managed portfolio held inside Super Simplifier, an APRA-regulated fund whose trustee is Equity Trustees Superannuation Limited and whose administrator is DASH. Meezan advises on the portfolio; the trustee holds the money.

What are Meezan Islamic Super fees in 2026?

Meezan publishes a 0.71% portfolio management fee including the adviser service fee, a 0.35% super administration fee and 0.03% expense recovery, with nil entry, exit, contribution or withdrawal fees. The Super Simplifier PDS dated 1 October 2026 states administration as 0.352% on the first $500,000 and expense recovery as 0.05%, raised from 0.03% on 1 October 2026. Underlying fund fees and a cash management fee of up to 1.50% on the required cash balance apply on top.

Is Meezan Wealth Shariah certified?

Meezan states that its investments are screened by IdealRatings to AAOIFI standards under a rulebook agreed with ISRA International Consulting, which certifies the final portfolio, and it names SRA Consulting of Malaysia as its Shariah board. No individual scholar is named on the website and no certificate is published for the super portfolios. A scanned certificate for the finance products exists but its signatories cannot be read.

Who funds Meezan's Ijarah home finance?

Meezan does not name the funder on its website. Meezan Finance Pty Ltd arranges the Ijarah as credit representative 529817 of Kuone Pty Ltd trading as 360 MMS (Australian credit licence 504193). The contract is described as lease-to-own with variable rental rates set in one to five year periods over terms up to 30 years, with legal title in the client's name subject to the financier's interest. Ask for the funder's name and current rental rate in writing.

Is Meezan's SMSF finance the same as Riyadh FS Al-Mustaqbal?

Both are sold under the Al-Mustaqbal name through the same Kuone credit licence and use the same bare-trust musharaka structure, so they appear to be one white-label product. Published rules differ: Riyadh states SMSF refinance is unavailable while Meezan's earlier table listed refinance, and Meezan advertised an offset facility that Riyadh disclaims. Confirm the terms of your own contract rather than relying on either page.