"f former President Barack Obama’s regulations, hated by the financial industry, that requires advisers on retirement accounts to work in the best interests of their clients"

We have similar rules in Canada.  I work in financial services.  These rules sound good in a sound bite like that, but they are onerous and destructive.  The result is reams of onerous forms to fill out that client's do not understand, constant signatures that clients often forget to return, and when they do their accounts become locked.  Additional fees charged to pay for all of the regulation and compliance.

There are bad advisors - but all of this hubub and money would be better spent on education and enforcement, rather than a bunch of bureaucrats sitting around cooking up endlessly more rules.   In the 90s, I could open a client's account over the phone and buy them a stock, send them the forms to fill out later.  Now I need 4 peices of ID, a void check, 5-10 pages of forms completed, every year.