Money managers have served pharaohs, kings, emperors, popes, and merchant traders - and now are available to average investors. One of the most significant modern developments in money management was the creation of the "Prudent Man Rule" in 1830, setting a standard that managers must "conduct themselves honestly and discreetly and carefully." A major distinction between types of money managers is between the 'pass-through intermediary,' who bears no risk on the client's behalf, vs. the 'risk-taking intermediary,' who guarantees certain results and pays the consequences for non-performance. Among the important money management concepts discussed in this overview are Market Portfolio Theory; 'beta' measurements of volatility; Capital Asset Pricing Model; Random Walk / Efficient Market Theory; and passive management / index investing. Also discussed is how to select a money manager, including a self-assessment of risk tolerance and an emphasis on clear communication. Mutual funds were born in America in 1924, with the incorporation of the Massachusetts Investor's Trust. Combining the features of professional management and portfolio diversification, mutual funds grew in popularity among small investors looking for convenient access to different investment markets. In the 1970's, the advent of the no-load mutual fund changed things forever. By 1990, there was more money in mutual funds than in savings institutions; by 1996, there were more mutual funds than stocks on the New York Stock Exchange. Great mutual fund pioneers have included T. Rowe Price, John Templeton, John Neff, Peter Lynch, and Howard Stein.