Anyone can set up a "backtest" portfolio by taking known past winners.   I  could do it.   Send me the money!

The simple and lowest cost way is to go to Vanguard.  They have advisors who will help.  Another simple way, though, is to pick a Target Retirement fund with an allocation he is comfortable with and go to that.  At age 65 Target 2005 or 2010 may be appropriate.  Let the fund manage  the allocation which will gradually reduce his stock allocation as he gets older.   He could also mix Target 2005 with Wellesley, just as an example.

There are a lot of questions which should be asked before he goes anywhere. 

If his assets are considerable such as $1million definitely get some advice from Vanguard Flagship advisors if he would feel comfortable with Vanguard. 

Jim