Home Online Paralegal Programs Changes to Ada-Based Pre-Paid Legal Services in Works

Changes to Ada-Based Pre-Paid Legal Services in Works

Written by Peter L. Hopper    Monday, 26 December 2011

Just about two months after they completed their purchase of Pre-Paid Legal Services, officials at MidOcean Partners are planning major changes for the Ada-based company. MidOcean officials said Pre-Paid’s new CEO, Rip Mason, would announce a rebranding initiative and other changes at Pre-Paid’s 2011 Leadership Summit in Dallas. The event, scheduled for Sept. 7-10, is expected to draw more than 10,000 independent associates from across the U.S. Mason said his goal was to build on Pre-Paid’s 40-year history and, at the same time, push new growth initiatives. “From the beginning, Pre-Paid Legal Services has been a unique company, providing a high-quality legal service product through a direct-selling business model,” he said. “There is not another business like this in North America, and our plan is to rebrand the company and expand awareness and use of the company’s products throughout North America.” While Pre-Paid will undergo several changes, company spokesman George Snyder said the company will continue to host its regular events in Oklahoma City. “We host two events annually,” Snyder said. “We host the Oklahoma City convention and the leadership summit. We will continue the Oklahoma City convention.” Snyder said the Oklahoma City convention is one of the largest events in the metro area. Pre-Paid’s new Chief Commercial Officer Alan Fearnley used an analogy from the film The Matrix to describe the company’s rebranding efforts. Pre-Paid associates, he said, could take either the blue pill and maintain their current status or take the red pill and discover the true potential of the company. “During this first leadership summit under the ownership of MidOcean Partners, we will introduce the rebranding of the company to our associates and show them the value of the red pill,” Fearnley said. In February, MidOcean officials said they would make several changes in Pre-Paid, including stabilization of the company’s compensation plan, a decrease in reliance on promotional activity, focusing more in retention, early recognition of high performers and a new focus on standardization of training. MidOcean said the company also would work to expand Pre-Paid’s market by targeting small business groups and the Hispanic market. Pre-Paid said its provider attorneys – not normally in attendance at associate meetings — will attend the Dallas event. Pre-Paid said it would also host an in-service training seminar for Texas referral attorneys who offer legal services to company members. Purchased in June by MidOcean for more than $650 million, Pre-Paid Legal has more than 1 million associates in the U.S. The 40-year-old company was traded on the New York Stock Exchange until MidOcean paid $66.50 per share for all of Pre-Paid’s 9.7 million shares.

Last Updated ( Monday, 26 December 2011 )