– How to really win an auction: NZ’s experts reveal their trade secrets<\/a><\/p>\nThe woman said she had trusted Connors, but claimed that all the advice Connors had given her was wrong, telling OneRoof that she regretted not doing more research on Connors.<\/p>\n
She said she was stuck with a property that was worth at least $100,000 less than what she paid. \u201cWe would lose a shed load of money [if we sold it now].\u201d<\/p>\n
The woman said she had been following recent social media posts featuring Connors and was surprised she was still promoting herself as a property investment expert. \u201cIt\u2019s been really, really difficult. It does annoy me she\u2019s still carrying on …” the woman told OneRoof.<\/p>\n
\u201cI think she\u2019s left us in a terrible financial position \u2013 I don\u2019t know what I\u2019m going to do … she\u2019s doing all that, living the life, owes money everywhere and thinks she can carry on doing that. I think it\u2019s disgusting, to be honest.<\/p>\n
\u201cShe\u2019s left us very stressed, financially insecure because we don\u2019t know what\u2019s going to happen to it [apartment].\u201d<\/p>\n
Connors\u2019 companies, Propellor Property Services and Propellor Property Investments, have been liquidated. Connors told OneRoof that over $130,000 that was owed to the IRD and a handful of unsecured creditors was still \u201crelatively minor\u201d given Propellor Property Investments was a \u201cmultimillion-dollar company\u201d.<\/p>\n
A spokesperson for Financial Services Complaints Limited confirmed to OneRoof that Connors\u2019 deregistration did not stop her from working as a financial adviser outside of New Zealand. However, Connors was prohibited from providing financial services to clients based in New Zealand.<\/p>\n
The Financial Market Authority is responsible for investigating any potential breaches of the law.<\/p>\n
The FMA would not comment on the investigations or engagements it might have with organisations or businesses. However, Michael Hewes, director of deposit-taking, insurance and advice, warned investors who were considering working with overseas brokers or advisers to exercise caution. Protections differed between jurisdictions, and New Zealand investor safeguards may not apply when dealing with offshore providers. <\/p>\n
Hewes said if a deregistered or unlicensed person continued to provide advice to New Zealand clients, then the FMA might investigate, with offenders in line for penalties of up to $200,000.<\/p>\n
However, he noted that not all property-related activities came under the umbrella of financial services, pointing to general property coaching or education where no financial advice or lending is provided.<\/p>\n
– Click here to find properties for sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"– Nikki Connors\u2019 company was found to have given misleading information, resulting in a $136,671 compensation order. –…\n","protected":false},"author":2,"featured_media":341337,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[42,1258,43,40,38,41,39],"class_list":["post-341336","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-headlines","tag-latest-news","tag-news","tag-top-news","tag-top-stories","tag-topnews","tag-topstories"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/341336","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=341336"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/341336\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/341337"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=341336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=341336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=341336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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