IPAW 2022: Wealth advisers should use 'sunny day fund' to promote IP

Wealth advisers and financial planners will be familiar with the "rainy day fund" concept, whereby clients will amass funds as insurance should the worst case scenario happen to them. However, for Sonny Kurmi of SK Wealth Solutions, this can be viewed from a different perspective that underlines the importance of having income protection in place. "Ultimately, people look at capital in the bank account as like a rainy day fund. But I look at it as a sunny day fund as well, because ultimately, when we look at their future goals, that money they've got in the bank can be used to achieve...