Originally Posted by bedrock

Definitely vet this person as much as possible. I agree that it may be better to pay someone an hourly fee, because there would be no conflict of interest; at least you should do this before agreeing to any long term asset mgmt. deal.

You should make sure they have a hedge strategy for your core assets, that is the assets you don't want to risk too much. If you designate a certain part of your investment toward higher returns, i.e. riskier investments, what is the amt you are willing to lose as a % or dollar amt? Does the mgr. use options? Is there a plan for if the mkt. downturns or crashes, i.e. short sell options? Does the mgr offer advice on investments outside of the stock mkt, such as real estate, precious metals, etc? These are a few things I can think of off the bat.