What are the characteristics of a fiduciary relationship?

In defining the characteristics which would contract fiduciary duties, Sopinka accepted the characteristics set out by Wilson J. in Frame v. Smith, 1987 CanLII 74 (SCC), [1987] 2 S.C.R. 99 [p. 599]: "Relationships in which a fiduciary obligation have been imposed seem to possess three general characteristics: "(1) The fiduciary has scope for the exercise of some discretion or power. "(2) The fiduciary can unilaterally exercise that power or discretion so as to affect the beneficiary's legal or practical interests. "(3) The beneficiary is peculiarly vulnerable to or at the mercy of the fiduciary holding the discretion or power. "It is possible for a fiduciary relationship to be found although not all of these characteristics are present, nor will the presence of these ingredients invariably identify the existence of a fiduciary relationship."