What are the factors that may point to a fiduciary relationship between a broker and client?

The Court of Appeal for Ontario has identified five non-exhaustive factors that may point to a fiduciary relationship between broker and client: (1) vulnerability arising from such things as age and degree of investment knowledge, education or experience; (2) the degree of trust and confidence reposed in the broker and the extent to which the broker accepts that trust; (3) whether there is a long history of reliance on the broker’s judgment and advice and whether the broker holds him or herself out as having special skill and knowledge upon which the client can rely; (4) the extent to which the broker has power or discretion over the client’s account; and (5) any professional rules which may define the duties of the broker and the standards to which he or she will be held, Hunt v. TD Securities Inc., 66 OR (3d) 481, 2003 CanLII 3649 at para 40 (CA).