The meaning of fayz is to come in effect and benefit from.
1) The most important and apparent fayz of shaikh, which is also a sign of awliya Allah shaikh e kamil, is that by seeing them one remembers Allah ta’ala. The rememberance of Allah ta’ala is the biggest benefit, as Allah Ta’ala has said
‘Wa La Zikrullah Al Akbar and Fazkuruni azkurkum’
In other words, the rememberance of Allah Ta’ala is the biggest thing and in this the person reaches level where Allah Ta’ala remembers His servant.
2) When sitting with them, the love of duniya is decreased. And the love of duniya is the root of all evils. Just like in Baihaqi, in Shuab al imaan, it is reported from Hadhrat Hasan (radh) that:
‘hubbu dunya ra’asa kulli khatee’a’
3) The love of Allah Ta’ala and the hereafter is increased, these are the things which makes Imaan and Taqwa complete. And excellence in these two things is the name of wilayat.
The evidence of these three effects is the experience itself. Experience this yourself by sitting [with the shaikh] daily for two to four days. Then compare the kayfiat of sitting in silent majlis of shaikh and your home environment. If there is no effect then, then no doubt do not sit because these effects is the awaleen sign and condition of shaikh e kamil.
A group of religious and truthful people say that we take with us many iskalaat [issues] and wasawais in the majlis of our shaykh, and there [in the majlis] without questioning our questions get answered, and the wasawais get away. There is peace and tranquility in the majlis.
Without doubt, every normal person feels this benefit, with a condition being that the person has munasbat, and has no objections with the shaykh. [The normal person] feels benefit in zikr and shughal, but the ahle nisbat gets the most benefit which is more than the normal person.
[Taken from Fayz e Shaykh – Hazrat Sufi Iqbal Muhajir Madani ()]