No I have talked to others in the financial products industry that worked for other brokerages, they confirm they had to do the same. We pay no fees of any type and can own any funds we want, it just has to be in an account they can monitor. I am not saying it is an SEC requirement, but that it is common practice.
My company has a ESPP and ESOP managed by e*trade and I have to send them the statements each month showing there is no account activity beyond these two programs.
He will never read books or forums, bnot his style. I think I will look for a for fee FP to help me out here. I will agree to see a rep from his company, but only under the condition that he agrees to get a second opinion.