Executive Benefits Firm Raises $12 Million

These days, executive benefits problems are more complicated than they used to be, and firms need to make better use of the Internet and wireless communications, Mel Todd says.

Clark/Bardes demonstrated one way to raise cash in August 1998, by bringing in $36 million with a public stock offering. Clark/Bardes has been in the headlines with one acquisition announcement after another ever since.

The Todd Organization prefers to remain privately held and avoid the quarter-to-quarter earnings comparison pressure that faces public companies, Mel Todd says.

"We have a long-term focus on the business," Todd says.

The company also has a long-term focus on hiring.

The company now has 20 full-time sales representatives. Todd would like to see that number increased to 50 over the next five years.

The new reps must be able to communicate well with corporate boards and high-level executives. The ideal candidates are seasoned insurance producers who have already developed strong relationships with small business owners and would like to move up to the next level, Todd says.