Four new products for EasyEquities 

EasyEquities-owner Purple Group is going to introduce four new products to its portfolio in the next two years, including an updated app and a retirement platform.

Purple Group released its results for the six months through February 2024 today. It revealed strong performance and a significant rebound from poor results in the 2023 financial year.

Most of Purple Group’s income is derived from the Easy Group, which consists mainly of EasyEquities, the well-known investment platform that aims to democratise investing in South Africa.

Purple Group’s current brands are EasyEquities, EasyProperties, EasyAssetMgmt, GT247.com, Rise, and EasyCrypto. It also offers other services like MrPHY, EasyCompare, and EasyWealth.

EasyEquities is the jewel in Purple Group’s crown, contributing to the majority of the company’s revenue.

In the six months through February 2024, EasyEquities’ registered clients grew by 21% to 2.17 million and its active clients by 32% to 113,996.

Its retail inflows increased by 7.2% to R3.25 billion, with net inflows reaching 2.26% of average client assets.

Purple Group will be adding to this growth by launching four new products in the next two years.

The first is Easy App 3.0, which is set to launch through a phased rollout program starting in July 2024.

Purple Group CEO Charles Savage said this is his most anticipated product launch of the year. 

“I firmly believe that this enhanced user experience will excite, engage, entertain, and educate our community, driving strong viral growth loops that will bolster acquisition and conversion in the coming years,” he said.

The second is EasyTrader, which is planned to be released in August 2024.

This product is poised to revitalise and repurpose GT247.com, Purple Group’s CFD provider.

According to the company, EasyTrader will offer a seamless, integrated, and intuitive platform for active traders, who already constitute close to 5% of the Easy community.

The third product is EasySubscriptions, launching in December 2024, which will introduce tiered service offerings.

This will enable clients to engage with and bundle EasyEquities’ services, enhancing the value in a more predictable manner.

The fourth product is EasyRetire, Purple Group’s “major reveal” for 2025.

It is a platform dedicated to redefining retirement planning and savings, aligning the company’s offerings with advisors and affirming its commitment to supporting clients at every stage of their financial journey.

“The future is bright, with much to look forward to,” said Savage.

“New product launches will continue to leverage our ever-expanding Easy Group Ecosystem, while the expected shift in the interest rate cycle to declining rates later this year signals strong economic growth and encourages retail clients to resume higher levels of investment activity, reminiscent of the period before the first interest rate hike 28 months ago.”