Without knowing things like her age, objectives, tax situation, and risk tolerance it is pretty much impossible to know what a good portfolio is.She is in her late 70's. Her risk tolerance is not too high. She was worried when all her portfolios went down in the last year. The money she would be managing is 19% of the money she lives off of. In addition how the money is currently invested now makes a big difference. Even if it is not in an ideal investment now, the tax consequences of moving the money around may be more than the advantages of setting up an ideal portfolio.It might be better to continue to pay the bank to manage her money? The funds they have her in are not so great. The funds have average to above average fees.You do have way too many funds listed. Individual stocks may be a bit different but if you can’t justify putting at least 5% (or even 10%) of your portfolio into a mutual fund, then it really doesn’t make sense to buy it...I suppose ten funds may be too many. I'm not sure what funds to take out. I read that foreign bonds, emerging market funds, commodity and real estate funds were good diversification for today's changing economy.