When managed by a competent portfolio manager, what is the average rate of returns?

If I begin investing, what is the average rate of returns will I get if I hire a competent portfolio manager to manage my investment? I’ve heard, long ago, that the average return on investment is around 12%. Is this true? I am a bit confuse because when I look at bankrate.com, the average CD [...] http://bit.ly/r7uuDv