In the case of the Wells Agency, Conseco offered capital and an opportunity for Mike and his associates to continue to be independent and entrepreneurial. But there was a risk that this would not work out to be the case. I went from running my own ship to becoming part of a larger public company. That hasn't been a terribly difficult problem, but it does take some time to get used to not being number one. And that brings us to another important consideration.
Many agents wind up leaving after an acquisition.
Fortunately Conseco saw the value that I brought and most of our associates have understood the value of the acquisition. And, of course, the agency needs to be profitable. That almost goes without saying. Not many agencies are going to survive if they're not profitable. But the key point is that today businesses must take advantage of every opportunity to increase profitability and enhance their bottom line.