Reply #1: That appears to be a reasonably diversified portfolio.

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I would hold commodities, as I think we're going to see a long bull market in commodities. I reduced my REIT position last year, and I don't think the real estate market has hit the bottom yet. Of course, that REIT may deal in certain areas of the real estate market, so their advisor may see gains to be had.

I personally think that PIMCO is a well run operation.

This was told to me last week by one of my investment gurus who I worked with on a Taft-Hartley plan some years ago: Obama or McCain win in November, markets up. Clinton wins, markets down.

Take it FWIW.

ETA: As to the rip-off aspect, I'd say it depends on how the account is structured. If the fund manager takes only a reasonable percentage of assets under management, then that's okay. Percentages generally vary depending on the value of the account. If they're being charged for each trade, then the rip-off potential is quite high, and the manager will bear watching.