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Co-founder Justin Wisz is out at Vestorly, and neither party is commenting; but some jarring Glassdoor reviews of the ex-CEO raise eyebrows

The Ken Fisher disciple went six years at the NYC-based start-up before his co-founder Ralph Pahlmeyer took his place

Tuesday, November 6, 2018 – 1:38 AM by Oisin Breen
Admin:
no description available
Justin Wisz built Vestorly to drip market curated third-party articles to investors on behalf of advisors. Now he's gone and the company rolls on.

Related Moves

With Justin Wisz gone, Vestorly's new CEO jibes to algorithm licensing tack, wins Hootsuite and knocks old model, saying market is saturated by competitors

Ralph Pahlmeyer will play to his firm's sifting strengths, seek enterprise deals and think more like a software executive

November 21, 2018 – 7:09 AM



LeGrand S. Redfield, Jr. CLU, ChFC, CFP

LeGrand S. Redfield, Jr. CLU, ChFC, CFP

November 6, 2018 — 7:49 PM
The problem with Vestorly is that they keep making mistakes with the program. They think they are making things easieer for their users when in fact they waste more of the user's time. More keystrokes, harder to find areas of interest, and overall they make changes that may or may not be of value, but when customers call to complain that something doesn't work, they get told that the problem couldn't be duplicated so it must be the customer's problem, at least until Vestorly gets around to fixing it. Our office has used Vestorly for years and just in the past few days they made a change to programming without notification to thier user base (again), that no longer allows the viewer to view articles from all sources in Vestorly as the articles are published; And Your Bookmark no longer allows the user to include the most recently published articles from the respective sources. The argument is that this is in the best interest of the user. What if the user doesn't want Vestorly deciding what is best for the client, let alone the advisor? They don't seem to have an answer for that. Ralph has always been more helpful than Justin when it comes to working with customers and resolving issues, but it is unclear if he understands how poor the service component of his company is and if the changes that they make, which certainly are not run through any quality control process, are really of value or justification for hiring more employees. A quick poll of financial planning users found that many have been turned off by the company, the product, or the support in recent years. Our firm will work with Vestorly to find a resolution or terminate our agreement for thier failure to provide the product and service we contracted for.
Bill Winterberg

Bill Winterberg

November 7, 2018 — 1:05 PM
For the record, I am not the anonymous source cited in this post. If you have heard or been told otherwise, please contact me privately at bill (at) fppad (dot) com.

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