Many of my friends are talent managers. They operate differently. There are several things to look for and questions to ask before you sign or work with a talent manager. Many are really great, but some are not. They are out to scam you. Don't get lost in the title.
The days of headshot alone are long gone. You need a brief acting reel which immediately shows the diversity of your talent. Whether you're looking for representation or a job, it's now a must.
It's about the product, the child. Parents, with good intentions, often try to control the process. When you take a child, the parent is part of the package. That's a good or bad thing for production, depending on the parent.
You need to spend money. However, you need to know what to spend it on now, and how much is the norm in the industry. Don't get caught up in scams.