We have signed hundreds of NDAs since the 90s and had client sign them, but have generally found that they're not worth much.  It's really up to you. But if it is for the purpose of avoiding circumvention, don't worry about that. The trade team itself includes non-disclosure and non-circumvention in its own contracts signed with the investor.  In other words, the investor is required to agree to non-disclosure by the trading team itself - - which the investor will respect a lot more than one from you, because he will be getting his money from the trade team. To ask him to sign one with you may not do much good, and it would be redundant, because the investor is already under non-disclosure with the trade team.