10 years of Easy Equities: Purple Group CEO Charles Savage on revolutionising retail investing in South Africa

From a bold startup to a billion-rand giant, Easy Equities celebrates a decade of democratizing investing. With over a million active clients and R60 billion in assets, Charles Savage, CEO of Purple Group, reflects on triumphs, challenges, and the vision to reshape wealth creation..Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here..The seventh BizNews Conference, BNC#7, is to be held in Hermanus from March 11 to 13, 2025. The 2025 BizNews Conference is designed to provide an excellent opportunity for members of the BizNews community to interact directly with the keynote speakers, old (and new) friends from previous BNC events – and to interact with members of the BizNews team. Register for BNC#7 here..Watch here.Listen here.BizNews Reporter .Easy Equities, the trailblazing platform that introduced millions of South Africans to investing, has reached its tenth anniversary. For Charles Savage, CEO of Purple Group, the journey is a testament to resilience, innovation, and a relentless focus on democratizing finance. Speaking during the platform's milestone celebration, Savage unpacked the key strategies and lessons that have shaped Easy Equities' growth, offering a glimpse into its bold ambitions for the next decade. ___STEADY_PAYWALL___.The Numbers Tell a Story.Marking the occasion with a robust set of financial results, Easy Equities crossed one million active clients, managing over R60 billion in assets. The platform, which allows South Africans to invest in shares, unit trusts, and even international assets at low costs, has become a household name in retail investing. Purple Group, its parent company, owns 70% of Easy Equities, and its financial turnaround this year—from a R50 million loss to a R50 million profit—illustrates a resilient and evolving business model..Reflecting on these achievements, Savage credited the team's dedication to balancing financial performance with the platform's core mission of accessibility:."Gone are the days where investing was the preserve of the wealthy. We're proving that anyone can build wealth, no matter the size of their initial investment.".Weathering Economic Storms.Easy Equities was born during a bull market, with the first seven years buoyed by low interest rates and rising asset prices. However, the past three years brought inflationary pressures and interest rate hikes that tested both investors and the platform. According to Savage, these challenges spurred critical shifts in strategy:.Focus on Sustainability: Transitioning from reliance on transactional revenue to annuity-based income streams.Cost Efficiency: Streamlining operations to keep expenses low in a high-inflation environment.Innovation and Engagement: Introducing Thrive, a loyalty program encouraging positive investor behavior and reducing platform fees for active users..Thrive, in particular, has been a game-changer. Clients who engage with the platform more frequently benefit from fee waivers and enhanced services, creating a virtuous cycle of better investor habits and increased platform deposits..Crypto, Mortgages, and Beyond.Easy Equities has also embraced diversification, launching Easy Crypto and exploring new markets like mortgages. Crypto now contributes 10% of Purple Group's revenue, with over 110,000 active crypto investors on the platform. Savage sees blockchain as the future of asset ownership and believes this strategic foray into digital currencies positions Easy Equities ahead of its competitors..In mortgages, the platform acts as an aggregator, helping clients secure competitive rates while leveraging insights into their financial behaviors. This marks the start of a broader push to offer products that protect and grow client wealth.."To the extent that we can help our clients create and protect wealth, we have an obligation to innovate and deliver," Savage explained..Global Aspirations.While Easy Equities dominates the local market, the next frontier lies overseas. Progress in regions like Kenya and the Philippines has been slower than expected due to regulatory hurdles. However, Savage remains optimistic, emphasizing the potential for the platform's unique model to succeed globally..Closer to home, the focus remains on scaling. Easy Equities aims to grow its annual revenue from R400 million to R4 billion over the next decade, a goal Savage believes is attainable given the platform's current trajectory..Lessons from Discovery and Robinhood.Savage credits some of Easy Equities' success to learning from local and international players. Thrive's behavioral incentives, for instance, draw inspiration from Discovery's Vitality program. Similarly, Easy Equities shares parallels with Robinhood, the U.S.-based investment platform, as both evolve to offer broader financial services.."The future isn't just about trading or asset management—it's about empowering our clients at every step of their wealth journey," Savage remarked..Looking Ahead.Despite its achievements, Savage acknowledges there's more work to be done. Easy Equities plans to expand its advisor partnerships, enabling professionals to leverage the platform's tools for their clients. Additionally, scaling products like Easy Protect (life insurance) and Easy Credit will ensure the platform meets diverse customer needs..Most importantly, the company remains committed to its purpose: democratizing investing.."We started this journey with just R2 million and a dream. A decade later, we've proven what's possible. But this is just the beginning. The next decade will be about scaling our impact—locally and globally.".As Easy Equities looks to the future, its story resonates as a beacon of hope and innovation in South Africa's financial landscape. From young first-time investors to seasoned pros, the platform has redefined what it means to invest, proving that the wealth-building journey is one everyone can take..Read also:.🔒 Ted Black: SA's biggest IPO in ages – what's Boxer actually worth?BizNews Briefing – Bitcoin flirts with $100k; current NHI plan will break South AfricaKevin Lings on markets, monetary policy, and geopolitical risks

10 years of Easy Equities: Purple Group CEO Charles Savage on revolutionising retail investing in South Africa

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