California, United States of America
The following excerpt is from Choi v. Sagemark Consulting, 18 Cal.App.5th 308, 226 Cal.Rptr.3d 267 (Cal. App. 2017):
11 Fiduciary duties may be imposed by law, as in " certain technical, legal relationships such as ... trustees and beneficiaries, principals and agents, and attorneys and clients, " or may be determined as a question of fact, based on the nature of the confidential relationship that gives rise to a fiduciary duty under common law. (Hasso v. Hapke, supra, 227 Cal.App.4th at p. 140, 173 Cal.Rptr.3d 356 [referring to the investment advisor-client relationship as fiduciary by law].) The statutory definition of investment advisor "also includes any person who uses the title financial planner ..." and engages in the business of advising others about investing in securities. (Corp. Code, 25009, subd. (b).)
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