Copyright Goodheart-Willcox Co., Inc.
204 Unit 3 Investigating Career Pathways in Human Services
Customer service representatives are critical to positive business
transactions. As purchasing interactions become less face-to-face and
more dependent on technology, these representatives’ skills become
even more needed to smooth out frustrations that sometimes occur in
the process (Figure 8.3). Overall, their goal is to mediate and support the
purchase of the product or service so both the customer’s and supplier’s
needs are met.
Sales workers, or salespeople, are needed in any industry involving sales
of products or services. Sales workers help customers select and purchase
or obtain goods and services. They often help their customers identify a
need. They offer options. Finally, they close the sale. Other duties include
managing stock, reviewing inventory and sales records, developing
merchandising plans, and coordinating sales promotions. Sales managers
supervise sales workers. They are often involved in incentive plans and
forecasting future sales.
The retail industry provides fashion goods and services directly to
customers. Retail sales workers work directly with customers to help them
choose and purchase goods. Retail sales managers ensure customers get
prompt service and quality goods. This means retail sales managers have
total responsibility over all aspects of the store’s daily functioning. They
handle customer complaints and questions. They also oversee employees
and are responsible for hiring, interviewing, training, and staffi ng.
Financial services workers carry a huge
responsibility to always keep the best interests of
their clients and customers in the forefront. After
all, the advice and service they offer their clients
can have long-lasting effects on the clients’ finan-
cial health and well-being. In this relationship,
their clients are often vulnerable. Thus, financial
services workers’ loyalty must be undivided.
Their clients must be confident that this is indeed
the case.
Financial services workers who are placed
in a position of trust to watch over the financial
assets of others are called fi duciaries. Their
responsibilities are termed fi duciary duty.
Fiduciary duty is both an ethical and legal
responsibility. Various state statutes and laws
support this responsibility.
Examples of fiduciaries include investment
bankers, financial counselors, asset managers,
and managers of pension or retirement plans.
It is important to know that not all financial
planners or managers have fiduciary duty. There-
fore, it is possible to get guidance that is designed
to benefit the financial planner (in potential
commissions earned) more than the client.
Fiduciary responsibility includes trust. It also
includes loyalty and disclosure. Loyalty means
outside forces will not sway the financial services
worker. The worker will keep the best interests
of his or her client in mind. Disclosure means
transactions will be transparent. If the provider
is benefitting from the services provided, this
should be communicated openly. Loyalty and
disclosure result in trust—the cornerstone of
fiduciary duty.
Research Activity
Using online or print sources, research
what the fiduciary laws or statutes are in your
state. Who is considered a fiduciary? Share
your findings with the rest of the class.
Trust—The Cornerstone of Fiduciary Duty
Law and Ethics