IRA Rollover investment advice wanted?

[Alanw]

Looking for advice on my wife's IRA rollover.  We are liquidating an Amerivest portfolio at TD Ameritrade and rolling it all into a new IRA which I will manage.  Of course that didn't sit well with the account mgr. at TD.  The existing account consisted of 19 ETF's spread all over everything with a fee of .9% including the cost of the ETF's.  What I plan to do is put her in a conservative 40 stock/60 bond portfolio. We are both semi-retired and drawing SS.  My portfolio is 80% HBPP and 20% Wellesley and is about 3X hers.  I don't want her to take on any gold exposure as our combined is about 19% which I am okay with.  We want a very simple, small # of funds portfolio.  My proposal is 50% Wellesley, 20% VTI, 15% BND and 15% cash.  This would give her the 40/60 split with cash being considered part of bonds.  I know this is very Bogleheadish but looks like a good 40/60 split with some diversity amongst the stocks and bonds. The portfolio will cost about .10 in fees.  Any thoughts on this allocation would be appreciated.

I must add that when we left the TD office, the young account exec., after trying to convince us to use another Amerivest portfolio, had the look of "well there goes another old couple that know nothing about investing and will never make decent returns without professional help".  This, after I showed him my backtesting results of the above portfolio handely beating his portfolio for 1, 3, 5, and 10 years not including fees.         

[KevinW]

If I wanted a simple 40/60 stock/bond portfolio I would just put the whole account in the Vanguard LifeStrategy Conservative Growth Fund mutual fund.

[smurff]

What fund managers had such high expenses and such lousy performance that the company's own employees refuse to let their 401K money money be invested in it?  Wasn't that Amerivest?

[Alanw]

What fund managers had such high expenses and such lousy performance that the company's own employees refuse to let their 401K money money be invested in it?  Wasn't that Amerivest?

The heading on their website: "Imagine having a team of professionals managing your portfolio".  An even bigger nightmare than having one "professional" managing your portfolio. 

[AgAuMoney]

Professionals Managing Your Portfolio

[Alanw]

Love it!