When you consider hiring a money manager, you should bear the following issues in mind.

First of all, you will need to consider how they make money grow. What are the tools they will use to help you to increase the net worth? Do they invest on stocks or mutual funds? What is the focus of their investment portfolio? You will need to ask all these questions.

Then you will try to see if they perform well. Of course there is no way to see if they will perform well in the future. What you are doing is to investigate their performance in the past. It will be excellent if you can have the performance record for a whole market cycle. The market goes up and down in a market cycle. You can know how well the money manager performed in the past thoroughly if you can see how well they did when the market went up or down.

It is also important to know how they will make decision on their portfolios. Do they do the research themselves? Or will they rely on research results from some other sources? To what extent will they rely on the these sources? You will certainly have a better understanding on them if you can ask these questions.

The people who are actually working are also very important. If possible, you need to ask who will actually help you to manage the portfolio. Is he or she an experienced one in the business? You may also want to know who is going to help when the one responsible for your portfolio is on vacation.

Of course you may also consider the cost when you are choosing a money manager. However, this may not be the most important criteria you need to consider. A manager which charges you a high fee does not necessary mean that they will perform very well.

You should always ask for a quote first. You will need to know how a money manager charges. You will try to understand what kind of fees or commissions will be involved. Be prepared to negotiate if you are not comfortable with the quote. It is your money after all!