"Where there can be some doubt as to fiduciary status is the case of hired investment advisors. In the case of litigation or arbitration, a judge or panel would ask some form of the following three questions to determine status: What were the scope of services being offered? What was the client's level of sophistication in managing investments? How many investment options were suggested to the client? ... [It] would be better for all parties if these questions were asked before any disputes arise that might lead to litigation or arbitration. Better yet, the client and advisor should go over these questions and have a mutual understanding of fiduciary status before an engagement is solidified."