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n 2012, Randy Ambrosie was hired to run 3Macs, a Montreal-based wealth management firm with $4 billion in assets under management at the time.
Ambrosie set about re-energizing the culture of 3Macs, a business that has been around longer than the country of Canada itself. He made three tuck in acquisitions and grew the business to $6 billion in assets.
But all was not well in Montreal.
By 2016, the firm’s partners were worried that 3Macs had under-invested in technology, making it harder for them to compete in an industry where expenditures on regulatory compliance and combatting cybercrime were far outstripping revenue growth. Ambrosie convinced his partners it was time to get out. In this episode, you’ll learn:
Ambrosie and his partners agreed to sell 3Macs in part because they were worried about how factors outside of their control, like regulatory compliance and cybercrime, could cripple their business. If you’re starting to worry you might be exposed to factors you can’t control, consider getting your Value Builder Score, a measure of how sellable your business is, should you ever want—or need—to sell it.