Letter from the CEO of SelfWeatth

The highlights of the letter I received today.

Although SelfWealth has had an exceptional year of growth (with active traders up 166%, quarterly trades up 220% and securities held on HIN (in billions) up 230% for the third quarter of FY21 compared to the third quarter of FY20), this is just the start of the journey.

Innovation is in our DNA

SelfWealth is committed to ongoing product innovation – it is in our DNA! And our customer base is very supportive.

The introduction of US trading in December 2020 contributed to 18,645 new ‘active traders’ joining the platform during the third quarter of FY21, which significantly exceeded the surge in account openings recorded at the beginning of the COVID-19 pandemic.

This rapid adoption of US Trading by our customer base also exceeded our internal expectations and bodes well for the uptake of future product innovations.

We are now focused on the implementation of Agile methodologies where new solutions are developed through the collaborative effort of self-organising and cross-functional teams and we are investing in a comprehensive client segmentation data strategy to provide greater insight into our customers needs.

In the last few weeks, we have delivered minor account creation, mobile apps and a refreshed web experience.

In the near future, our customers should expect to see ongoing product improvements through streamlined onboarding processes, live pricing availability, an increase in US market order types, instant payment tech, and continued improvements to the member experience.

In early FY22, we will unveil our Product Roadmap and our priorities for driving future growth over the years ahead.