My fear is he may not fully recognise he probably does not have the necessary ability and should just outsource the lot.
agree he needs to come up with a plan and actually action it before too much time and opportunity slip away, instead of the dithering/considering. i just don't think outsourcing it is the way to go.
maybe this comes down to me viewing the advice industry more cynically than most people, but he mentions he's already tried that in an earlier post. to me that sounded like a rather costly experiment resulting in him being advised to buy into the market in dec 2018, then advised to sell everything off again in apr 2019. i am not surprised in the least by this sort of advice. it might have involved paying broker assisted commissions (1-2%) on the way in (that's how adviser initiated transactions tend to be done), and another lot of broker assisted commissions on the way out. this is in addition to (probably) an annual advisory fee of 1-2%
of the entire value of the funds under advice (a typical way that advisory arrangements are structured) and probably the most costly part - missing out on all the gains the market has enjoyed since apr 2019 due to the advice to sell everything at that time.
in my mind the only way to ensure advice that acts in your best interest is an arrangement that works something along the lines of - fees charged will be 10% of the returns made up to some pre-agreed benchmark (eg. S&P 200), plus 20% of the returns over and above the benchmark. brokerage included in fee.
not some annual fee based on the total portfolio value. that way your interests and the broker's interests are aligned. not sure if such a thing exists, they make way more money off you with the typical arrangement based on portfolio value, but i don't know, maybe it does.
if he's still reading, i would say (and this is just a personal view, not advice, i am not an advisor nor do i have an interest in ever becoming one), review the spectrum of Vanguard diversified funds (VDCO, VDBA, VDGR, VDHG, ordered from conservative to aggressive), read thru what they each do, think about your tolerance for risk and objectives for growth, and pick the one that you feel most comfortable with. i really don't think anyone could go wrong with those funds, they cover all the bases and of course carry the Vanguard brand, which has been reputable and trusted for a long time now. MER at 0.27% is rather high for my liking, but then again i've been investing since i was a teenager so i kinda know a little bit about what's going on. for those who want an easy one stop solution, that sort of MER should not be an issue at all, it is way, way more reasonable than advisory fees you would otherwise be charged.