Kicking off the first in a mini-series exploring the former lives of professionals across the protection and health sector, Alan Lakey, director at CIExpert, speaks to Health & Protection about his exploits as a young boxer before entering the protection sector.
Starting out
“My father was Junior ABA welterweight champion in 1937/38/39 and he taught me to box from age five, and at age 13 I joined a local club,” Lakey tells Health & Protection.
Lakey reveals that he loved training as he regards boxers as probably the fittest of all sportspeople and while he initially quit the noble art aged 15, he would subsequently return to the ring five-years later.
“I returned at age 20 for 10 months but then took a job doing shift work which ended my ability to train properly,” he continues. “You can’t fight without being super fit.
“I got married and bought my first house for £7,960.”
Entering protection
And after a period working in a factory, Lakey would make the move into the protection sector.
“I worked in a factory till aged 25 and became friendly with the financial adviser who set up the company pension scheme,” Lakey reveals.
“His life had been similar to mine in various ways and he encouraged me to enter the industry as an industrial branch agent.
“Back then the only two products available were term insurance and whole of life. This served me well because it was obvious that the bedrock of any financial planning was protection.
“From there I worked for three insurers and then joined a friend in his IFA business.
“This was before regulation when nobody had computers and we all received rate books from the insurers.
“There were also around 100 insurers, mostly direct sell such as Abbey Life, Allied Dunbar, but nonetheless a far wider range of choice for advisers. There were probably 30 to 40 companies to do business with.”
Lessons learned
Fast forward decades on from his final bout, Lakey, who still keeps a punchbag in his office to this day, reflects that he has taken some key lessons from his time as a boxer.
“It’s easier to rob with a pen than a gun so I have always stood up when corporate bullies and foolish regulatory edicts come my way,” Lakey continues. “Don’t assume that these people know more than you because often they don’t. Fight back when you believe you are in the right.”