Eqt.com.au Review

Based on looking at the website, eqt.com.au positions itself as a long-standing, specialist trustee company in Australia, boasting over 145 years of operation. They offer a broad range of services, catering to both private and corporate clients, including estates, wealth management, superannuation, fund services, and philanthropy. The site presents a professional and established image, with clear navigation and a considerable amount of information about their history, services, and community involvement. However, a strict ethical review, particularly from an Islamic perspective, reveals several significant concerns that render their primary offerings problematic. While the website demonstrates transparency in its corporate structure and longevity, the core services revolve heavily around conventional financial instruments, which are inherently linked to interest (riba), a fundamental prohibition in Islamic finance. This makes the core services offered by eqt.com.au, such as wealth management, superannuation, fund services, debt, and securitisation, largely unsuitable for a Muslim seeking ethically compliant financial solutions.

Read more about eqt.com.au:
Eqt.com.au Review and First Look: A Deep Dive into a Conventional Trustee
Examining Eqt.com.au’s Services: A Sharia-Compliant Perspective
Eqt.com.au: An Assessment of Legitimacy and Trustworthiness
Unpacking Eqt.com.au’s Financial Details and Email Format
Does Eqt.com.au Work? Operational Efficacy vs. Ethical Alignment
Is Eqt.com.au a Scam? A Thorough Investigation
Eqt.com.au: Pros and Cons (from a general, not Sharia-compliant, perspective)
How to Seek Halal Financial Services: A Guide for Muslims
eqt.com.au FAQ

Here’s a summary of the review:

• Overall Review Summary: Due to the reliance on interest-based financial services, eqt.com.au’s offerings are not recommended for those seeking Islamic ethical compliance. While the company appears legitimate and transparent, its core business model conflicts with Islamic financial principles.
• Company Longevity: Established for over 145 years, suggesting a high degree of stability and experience.
• Services Offered: Broad range, including Estates, Trustee Services, Philanthropy, Wealth Management, Superannuation, Fund Services, Custody, Debt & Securitisation, and Asset Management.
• Ethical Concerns (Islamic Perspective): Significant concerns due to the pervasive nature of interest (riba) in conventional wealth management, superannuation, debt, and fund services.
• Transparency: High, with readily available information on services, fees (via “Fees and Financial Services Guides”), and contact details.
• Community Involvement: Actively promotes philanthropic initiatives and reconciliation efforts, which are positive aspects from a general ethical standpoint, but do not negate the fundamental issues with financial instruments.
• Accessibility: Clear navigation, multiple login portals for different client types, and quick links.
• Missing Information: While extensive, detailed breakdowns of specific investment methodologies and their adherence to Sharia principles are absent, which is expected for a conventional firm. The implication of interest-based operations is clear by the nature of the services themselves.

The website, eqt.com.au, provides a comprehensive overview of Equity Trustees, a company that has been operating for over a century and a half in Australia. Their longevity, extending beyond 145 years, is a significant indicator of their established presence and presumed reliability within the financial sector. This kind of history often implies a deep understanding of market dynamics and regulatory landscapes, which can be reassuring for potential clients. The site meticulously details their offerings, segmenting them into ‘Private’, ‘Corporate’, and ‘Community’ services. For private clients, they manage estates, provide trustee services, offer wealth management, and handle superannuation. Corporate clients can access fund services, institutional funds management, custody, debt and securitisation, and asset management. Their community arm focuses on grant funding and not-for-profit investments, alongside their charitable foundation. This broad portfolio suggests a holistic approach to financial and philanthropic services. eqt.com.au FAQ

However, when you put on the lens of Islamic ethical finance, a stark reality emerges. The cornerstone of Islamic finance is the absolute prohibition of riba, which translates to interest. In conventional finance, interest is the bedrock of virtually all transactions involving lending, borrowing, and investment returns. Wealth management, superannuation funds, institutional funds, managed funds, custody and real assets services, and particularly debt and securitisation services, are all deeply intertwined with interest-bearing mechanisms. For instance, traditional superannuation schemes often invest in conventional bonds and equities that derive returns from interest or activities not aligned with Sharia. Debt securitisation, by its very definition, involves packaging and selling interest-bearing loans. While philanthropy is a commendable aspect and aligns with Islamic principles of charity (sadaqah and zakat), it operates within the larger framework of a financial institution whose primary revenue streams are likely generated through interest-based transactions. This structural reliance on riba means that participation in these core services, even for philanthropic ends, can be seen as indirectly supporting or engaging with a prohibited financial system.

Furthermore, the general lack of explicit mention of ethical or Sharia-compliant investment options on the eqt.com.au homepage suggests that their standard offerings adhere to conventional financial practices. For a Muslim individual or institution, this is a critical red flag. While the website is transparent about its conventional financial offerings, it doesn’t offer the specialised, interest-free alternatives that would make it permissible. There is no mention of ethical screening for investments, avoidance of industries like alcohol, gambling, or conventional banking, or the purification of earnings from impermissible sources. This isn’t a criticism of their business model from a conventional standpoint, but rather a crucial assessment from an Islamic ethical perspective.

The professional design, comprehensive information about their history, client service charter, and fees, along with their news and insights section featuring articles on philanthropy and current events, all contribute to a credible image. They even have quick links to their “Investor Centre” and multiple login portals, signifying a well-established and technologically capable operation. The stated figures of “650+ Charitable Funds,” “$224B FUMAS (Funds Under Management and Administration)” as of February 2025, and “$178M Distributed via 4800+ grants” for FY24 are impressive metrics of their scale and impact within the conventional framework. However, the sheer volume of these figures underscores the depth of their engagement with conventional financial instruments, making it difficult to reconcile their offerings with Islamic ethical standards.

The Reconciliation Action Plan and community engagement initiatives are certainly positive, demonstrating corporate social responsibility. However, these noble efforts do not transform the underlying financial structures. The core issue remains: the inherent nature of their financial services, which are built upon interest and conventional investment paradigms, renders them incompatible with Islamic finance. Therefore, for an individual or entity committed to adhering strictly to Islamic financial principles, eqt.com.au, despite its reputable history and comprehensive services, would not be a suitable choice. It’s a classic case where a highly legitimate and effective conventional service provider falls short when viewed through the unique and stringent lens of Islamic ethical guidelines.

Here are some alternatives for those seeking ethical financial services that align with Islamic principles, focusing on non-edible products or services where possible, with an emphasis on wealth preservation, ethical investment, and philanthropic endeavours, all within a Sharia-compliant framework: How to Seek Halal Financial Services: A Guide for Muslims

Best Alternatives List (Ethical in Islam):

1. Hejaz Financial Services
   • Key Features: Offers Sharia-compliant financial products including superannuation, home finance, wealth management, and investment funds. They undergo rigorous Sharia certification and offer ethical screening of investments.
   • Average Price: Varies based on service (e.g., investment management fees, profit rates for financing). Typically transparent with fee structures, similar to conventional services but structured for compliance.
   • Pros: Fully Sharia-compliant; local Australian presence; provides a range of essential financial services; strong focus on ethical investment.
   • Cons: Limited in comparison to the sheer breadth of conventional offerings; may have slightly higher fees due to specialised compliance and smaller market.
2. Crescent Wealth
   • Key Features: Australia’s first Islamic superannuation fund, also offering Sharia-compliant investment products. Investments are screened to exclude industries like alcohol, gambling, conventional banking, and non-halal food production.
   • Average Price: Standard superannuation fees (administration fees, investment fees, buy-sell spreads) applicable, detailed in their Product Disclosure Statement (PDS).
   • Pros: Specialises in superannuation, a critical area for long-term wealth building; strong Sharia governance; Australian-based.
   • Cons: Primarily focused on superannuation, so broader wealth management might require additional providers; investment options might be less diverse than conventional funds.
3. Islamic Relief Australia (Charitable Giving)
   • Key Features: A prominent international NGO with an Australian presence, facilitating Zakat, Sadaqah, and other charitable donations to various humanitarian projects globally. Provides transparency reports on fund utilisation.
   • Average Price: Donations can be of any amount; no hidden fees, though administrative costs are typically covered from general funds or a portion of donations as per charity guidelines.
   • Pros: Direct impact for charitable giving; highly reputable and transparent; aligns perfectly with Islamic philanthropic principles; addresses real humanitarian needs.
   • Cons: Not a financial institution for wealth management or investments; purely for charitable distribution.
4. Amana Funds (US-based, globally accessible)
   • Key Features: Offers globally diversified Sharia-compliant mutual funds focusing on ethical investing in publicly traded companies. Screens for conventional finance, alcohol, tobacco, pornography, and gambling.
   • Average Price: Standard mutual fund expense ratios (e.g., 0.85% to 1.05% annually), detailed in their prospectuses.
   • Pros: Reputable and established; broad investment diversification; strict Sharia screening; good option for those seeking global exposure.
   • Cons: US-based, so Australian investors would need to consider international investment platforms and currency conversions; minimum investment requirements may apply.
5. Ethical Investment Funds via Robo-Advisors (e.g., Raiz – ethical option)
   • Key Features: While Raiz offers a general ethical fund, it’s crucial to verify if it aligns with strict Sharia principles, as “ethical” is a broad term. Some ethical funds might still include interest-bearing instruments or industries forbidden in Islam. Careful due diligence is essential.
   • Average Price: Monthly fees (e.g., $3.50/month for balances under $15k, 0.275% p.a. over $15k) plus underlying ETF fees.
   • Pros: Accessible micro-investing; automated portfolio management; potential for general ethical alignment (but needs verification for Sharia).
   • Cons: Crucially, not all “ethical” funds are Sharia-compliant; must thoroughly research underlying investments. May not offer the specific Sharia screening required.
6. Wahed Invest (Globally accessible, online platform)
   • Key Features: An online Sharia-compliant investment platform. Offers diversified portfolios of ethically screened stocks, Sukuk (Islamic bonds), and gold. Aims to make halal investing accessible.
   • Average Price: Management fees typically range from 0.49% to 0.99% per annum, depending on the investment amount.
   • Pros: Fully Sharia-compliant; easy-to-use digital platform; diversified portfolios; accessible globally.
   • Cons: May not have a physical presence in Australia for direct consultations; investment options might be more limited compared to traditional platforms.
7. Islamic Finance and Investment Books/Courses
   • Key Features: Empower yourself with knowledge on how to manage finances ethically. Resources cover principles of Islamic finance, wealth preservation, Zakat calculations, and practical guides to Sharia-compliant investments.
   • Average Price: Varies from free online resources to hundreds of dollars for comprehensive courses or specialized books.
   • Pros: Fundamental for understanding and applying Islamic finance personally; empowers individuals to make informed decisions; foundational knowledge is invaluable.
   • Cons: Not a direct financial service provider; requires self-study and application.

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.

[ratemypost] Eqt.com.au: Pros and Cons (from a general, not Sharia-compliant, perspective)