What is procurement? “Procurement is the act of obtaining goods or services, typically for business purposes. Procurement is most commonly associated with businesses because companies need to solicit services or purchase goods, usually on a relatively large scale.”
I was interested in LinkedIn members website. It said “From our experience, we recognise that it is not financially feasible for organisations to employ full-time procurement specialists across the full spectrum of goods and services that can be purchased. These challenges culminate in non-purchasing trained employees making significant purchasing decisions without the tools or knowledge of the supplier market. This puts them at a huge disadvantage when negotiating with suppliers that have a very clear understanding of the real costs and the margins built into contracts.”
In the world of wealth management and private banking, the goal of these firms is to manage your liquid assets. They are very good at persuasion. The customers are trying to make the best ‘buying’ decisions but they lack ” the tools or knowledge of the supplier market”. As such this puts consumers “at a huge disadvantage when negotiating with suppliers that have a very clear understanding of the real costs and the margins built into contracts.”
The point of a procurement specialist is to ‘level the playing field’
The point of The Wealth Coach is to level the playing field.
At present most wealth managers, private banks and many financial advisers seek to sell products. It doesn’t appear that way because they are good at persuasion. What makes sense is to simply have someone on your side. We call it using a Financial Bodyguard like The Wealth Coach.