What is the fiduciary duty of trust, loyalty and confidentiality in a reliance-based relationship?

In Hodgkinson v. Simms, supra, La Forest J. at p. 173 stated: …the fiduciary duty is different in important respects from the ordinary duty of care….However, while both negligent misrepresentation and breach of fiduciary duty arise in reliance-based relationships, the presence of loyalty, trust, and confidence distinguishes the fiduciary relationship from a relationship that simply gives rise to tortious liability. Thus, while a fiduciary obligation carries with it a duty of skill and competence, the special elements of trust, loyalty, and confidentiality that obtain in a fiduciary relationship give rise to a corresponding duty of loyalty.