Nicole Noonan is Chief Executive Officer of the newly formed Novitas US., a company that provides original and beneficial financial solutions for individuals involved in divorce proceedings in the United States. Novitas, which has provided over 100 million dollars to clients in the U.K., will now provide eligible American divorcees with financing for attorney fees, expert costs and personal living expenses through Novitas US.
How did you get into the divorce/finance industry?
After graduation from law school I was given the opportunity to clerk for a family law judge. There I realized that family law was the type of law I wanted to practice. I had a real knack for working with people.
Tell us about Novitas US. What inspired the idea and what is your vision for the company?
While practicing, I would meet with clients almost every day that, while married had a comfortable lifestyle. Now that they were divorcing they were often cut off by the spouse that controlled the purse strings These same people did not have sufficient funds to retain proper counsel or maintain their lifestyles. I envision Novitas as a vehicle to empower these people during a very difficult time in their lives.
What strategic partnerships/marketing strategies have you implemented that have attributed to Novitas's success?
Novitas began in the UK, where it has been wildly successful. I envision Novitas US being equally as successful but on a much larger scale. I was impressed by their systems as well their large capital base. Couple that with my knowledge of the NY/NJ market. I have lived and practiced here. I know the associations and publication that are imperative to the growth of Novitas US.
What industry trends are you noticing and how do you capitalize on them?
Thankfully, divorce is becoming less and less of a taboo topic. It has become something more mainstream. Shows such as “Divorce Diva” “Divorce Court“ and “Girlfriend’s Guide to Divorce” have pierced the veil and we are free to talk about divorce. With half of all marriages ending in divorce, there is a need for an open dialogue about the topic.
“She who holds the wheel determines the direction.” While it is nice to be guided, do not let someone lead you or have more power over you. I believe in this motto and instill the importance of being empowered in the clients I meet.
We believe in achieving equity through equity. There needs to be an even playing field and with funding to support an individual throughout the divorce this can be achieved.
Your greatest success as CEO of Novitas? Most difficult moment-how did you overcome and what did you learn?
My greatest success has always been the positive feedback from clients. I believe in enabling clients to feel confident and stand on their own two feet. Since the company just launched my biggest hurdle is making both law firms and clients aware that divorce funding is available.
Your advice to an aspiring entrepreneur?
Never to give up hope and work and stick to what you believe.
How do you motivate your employees?
By staying positive myself, my employees stay positive. The energy is contagious.
One food and drink left on earth, what would you choose?
Macaroons from the weekend markets in St Tropez and Green Goddess juice from Mangia.
What literature is on your bed stand?
Law Journal and T The New York Times magazine.
Role model - business and personal?
My grandmother is the strongest person I know. She worked, raised six children, and is still active in her community. I admire her work ethic and try to emulate it every day.
Physique 57. After training in classical ballet this is the only exercise I have found that helps reenergize both my body and soul like ballet.
Favorite travel destination?
I love to travel. My favorite destination is St. Tropez, France where I have made many wonderful friends.
What's next for Novitas?
Expansion across the country and into Canada.