What factors are considered in determining whether a broker has a fiduciary relationship with a client?
Ontario, Canada
The following excerpt is from Paciorka v. TD Waterhouse, 2007 CanLII 28749 (ON SC):
In Varcoe v. Sterling, the court assessed these factors to ascertain whether there, in fact, existed a fiduciary relationship between the broker and the client. The court noted at paragraph 89 that “Primarily, a broker’s relationship with the client is that of agent and principal. The agent takes instructions from the principal and carries them out with care, skill and diligence.”
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