I posted a similar question a while back but didn't get much response, so I thought I would rephrase.
I am looking at opening a Roth IRA. I haven't had one previously because I was working abroad and ineligible. Or rather, I opened one with Northwestern Mutual, then found out I was ineligible, then had to take all my money out before the tax deadline. It was a mess, I've learned a lot since then, and I don't want to go back to NWM. Now I'm back in the US, starting a new job soon, and interested in opening a Roth again.
I currently have a WiseBanyan taxable account (where I put the money I couldn't put in a Roth) and I've been pretty happy with them so far. My investments are diversified into Schwab and Vanguard Index Fund ETFs (I think they started with Vanguard and then switched most of my new purchases to Schwab when they started offering their lower fee funds). I'm pretty happy with their diversification strategy as it's basically what I had picked on my own to do, but without me having to manually rebalance everything and with the added inclusion of REITs, which I've learned to like.
So... Is there any major reason NOT to open my new Roth IRA with WiseBanyan? Am I risking anything putting all my investments (other than my 401k and ESOP) with a "start up" robo-advisor? Should I open an account with Schwab or Vanguard instead, even though I'm basically just investing with them through WiseBanyan?
I've noticed in past WiseBanyan threads that people are concerned about their start up status and the fact that they don't have much money under management yet. Practically, what does that mean for me? My money is technically in the ETFs, not WiseBanyan, so what happens if they fold?