Communicating with the Next Gen

Using mobile to connect with the Next Gen of clients before your competitors do.

According to a UK survey by Russell Investments, for one in 10 wealth advisers the majority of their client base is over 70 years old and for nearly 50% of advisers, between 20 and 50% of their client base is over 70 years old. Such figures will be familiar to wealth management professionals both sides of the Atlantic, as the debate over how well the wealth management industry is preparing for the implications of a significant transfer of wealth and assets from the baby boomer generation to generation X and Y has been gathering pace over the last two or three years.

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The negative effect of cyber security on client trust

Business email compromise attacks, also known as masquerading or invoice scams, are, according to, becoming more “sophisticated and pervasive”.

The attacks use a range of techniques such as scheduling fraudulent wire transfers or diverting funds scheduled to be sent from one account to another, for example house purchase funds from a lawyer’s escrow account to the scammer’s own account.

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The big question for 2016.


How do you allow your people to use instant messaging compliantly?

From 20 days to seven minutes is the time saving in small business loan approval times that fintech start up Kabbage has pulled off according to McKinsey’s article on breakthrough customer experiences published this month.  Wealth managers used to a rather more leisurely pace – partly hindered by legacy systems and slow information retrieval – should take note.

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How’s the portal going?

By Douglas Orr, CEO of Novastone Media –

I admit I enjoy asking this question of CEOs and COOs at the private banks and wealth managers that I meet.

Only a few years ago online portals were seen as the great leap forward for the wealth management industry seeking to provide their clients with an improved experience online. But that was then and this is now, and the truth is that portals have not really engaged clients. Continue reading “How’s the portal going?”

IN THE PRESS: Wealth managers need to look to retail sector to learn to embrace ‘omni-channel’ services.

EXCLUSIVE: Wealth managers need to look to retail sector to learn to embrace ‘omni-channel’ services, Douglas Orr of Novastone told PAM Annual Finance Dinner

08:04 GMT , Tristan Blythe, Group Editor

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The wealth management sector needs to learn from the retail sector and how it has embraced an “omni-channel”, according to Douglas Orr, founder and chief executive of Novastone.

Mr Orr told diners at the inaugural PAM Annual Finance Dinner earlier this week (09/06/2015) that he was a “serial entrepreneur” and that before creating Novastone, which aims to provide a safe method for wealth managers to communicate with clients (see thewealthnet 02/03/2015), he had worked in the retail sector. Continue reading “IN THE PRESS: Wealth managers need to look to retail sector to learn to embrace ‘omni-channel’ services.”

Cyber Crime Strikes Again!

Cyber Crime is something we all have heard of or even worse, something we have been unfortunate enough to fall victim to ourselves.

We are currently in the midst of major technological developments. Everyday life has become so much simpler thanks to the likes of smart phones and tablets, which provide us with instant information at the click of a button. Not only has technology brought efficiency to our daily lives, it has also been a key contributor to major advances in sectors such as health, business, intelligence and finance. Continue reading “Cyber Crime Strikes Again!”

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