Protection industry veteran, Angela Davidson, speaks to Health & Protection about why she’s retiring after 20 years of advising on protection, what still needs to be done to close the protection gap and why this sector stands together as an underdog when compared with other financial services.
Earlier this week, Davidson (pictured) took to LinkedIn to announce that she was retiring from the world of financial services after 39 years.
But catching up with Health & Protection, Davidson revealed she began advising on protection while working at Barclays 20 years ago.
Her protection career subsequently took in stints at Northumbria Financial Management, Royal London, Zurich and most recently Mortgage Intelligence UK where she was head of protection.
She has also worked as a freelance sales performance coach and trainer at Passion for Protection.
Perfect timing
When asked about her reasons for retiring, Davidson cited her husband’s retirement and returning family.
“The timing is perfect,” Davidson told Health & Protection.
“My daughter and her partner have been travelling for three years and they’ve come back about three days ago to live with us before they get their home.
“It’s perfect timing to have a little bit of a breather with my family – old and young.”
Increased IP uptake
In terms of the most pleasing developments she has seen over her 20-year career, Davidson pointed to an increased uptake of income protection and better quality of advice.
“One of the biggest things that has cheered me is the fact that income protection is now on the rise. And that seems to have been a battle for so long.
“But I believe the quality of advice is getting better.
“It’s more holistic and should look right across the range. And I feel more advisers are giving more holistic advice now, and that really heartens me.
“The difference is more advisers are looking at menu plans and providing more bespoke advice.
“It’s having those better conversations that brings about advice that fits into different levels of their life, not just one size fits all, so I think that’s the difference.”
Wearing her heart on her sleeve
Reflecting on her own contribution to the sector, Davidson said she has always shown her love for the sector.
“I’ve worn my heart on my sleeve about protection and I feel as though the best thing I’ve done is show it,” she said.
“I’ve never been afraid of saying how much I love the industry.
“I’m going to miss all of the colleagues in the industry that I have had the pleasure of rubbing shoulders with because it’s a great industry and we all have each other’s backs.
“If you are in protection, you are part of industry that’s bloody hard. Against any other financial service, we’re the underdogs and I think that’s why we stand together.”
Closing the protection gap
But as she leaves the sector, Davidson added there is still much to do to the close the protection gap.
“There are still massive protection gaps,” she continued. “It’s still knowledge and it isn’t necessarily knowledge about products – though obviously that is part of it – it’s the how to.
“It’s the how to discuss it and how to get people on board with advising, but I have absolutely loved helping advisers talk about protection.”
Never say never
But Davidson did not rule out a return to the sector at some point in the future.
“I’m still a massive advocate for the protection industry and that isn’t going to go away,” she continued.
“Now a lot of people have said, once you’re retired, you won’t want to come back – but I’m saying, never say never.”
