I have a primary IRA which I've rolled 401k plans into and contributed to on an annual basis. It is with a full service financial institution and managed with a financial planner.
With the rise in services like Betterment and Personal Capital I've been thinking about investing to see how the experience compares and what the returns are like.
Other than the administrative overhead of managing multiple accounts at different institutions are there any disadvantages to having multiple IRA accounts which I should be concerned with? I understand the maximum contribution is still $5,500 across both of them. Are there tax or other implications I should consider?