Portfolio Management

I want to understand what is the better setup for Portfolio Management.

Since 2011, I have been guiding some folks (near relatives and friends – 6 in total) to manage their stock portfolios. But most of the folks have been finding it very difficult or cumbersome to execute trades, since most are 50+ years and not tech savvy. The number of trades are usually less than a dozen/year, and holding periods are 3+ years. These folks have been asking me if I can completely manage the portfolios, from buying, holding, sale of shares.

Which options makes better sense? As of now i can think of,

1. Open a partnership Firm with them, and run this portfolio as a Partnership. This seems easy.
2. Take PoA on their account, and execute trades. This seems more cumbersome.

I do plan to charge them for the services. If anyone has experience on operating in a similar scenario, can you please share your process, and the advantages/disadvantages of this or any other setup?

Thanks in Advance.
Ashwin.