I would agree with you that it's reasonable to expect that to be a conversation that would result in your desired outcome. There are a few technical things at issue.
Again, I agree this is broken. My only point is that saying things are "fraud" is harder than I think you expect.
The problem is that saying "I want X% return with Y risk, show me suitable investments" introduces two problems. The first is that risk is not easily quantifiable[1] and also that there are likely many things that are plausibly suitable for that requirement.
If you are dealing with a salesperson, they are required only to present stuff that has a reasonable likelihood of meeting your goals.
If they're working with someone who is a fiduciary, that fiduciary is required to do the extra analysis, but many people are not lucky enough to work with folks who are held to that higher standard.
In my view, every consumer when transacting with every salesperson should use their own judgment to make sure that the products they are being sold are sensible and suitable for them.
Failing to do that -- to just walk into a store and buy what the salesperson (not your personal shopper or your sister or someone who actually cares) says is best -- is just a bad idea.
I hope that adds some clarity as to where I'm coming from.
[1]Quanta exist, but are not comprehensively descriptive. Any metric will not comprehensively describe risk, especially because there are behavioral factors (your own changing attitude towards risk over time) that need to be incorporated into a thoughtful assessment.