Does anyone have any tips on the easiest way to manage other peoples money? I frequently get asked to invest on the behalf of others, but mostly turn it down as too much trouble. I use Power of Attorney for one family member, but even that is not always straightforward.

Sharebrokers have said they will act on my instructions if they have written advice from the client, but that doesn't cover all types of investments. Ideally, I'd like to be able to run just one or two portfolios and assign people units in them. However, I suspect there is alot of legal requirements if doing this.

Any comments or suggestions?