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 staffing. 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’ financial 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 fiduciaries. Their responsibilities are termed fiduciary 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. Therefore, 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