Propellor Property
Disclosure Statement
Important Discosures
Licensing information
Propellor Property Investments Limited (FSP202485) is a Financial Advice Provider (FAP) licensed and regulated by the Financial Markets Authority to provide financial advice.
Nature and scope of the advice
Propellor Property Investments Limited only provides advice to clients in relation to new build residential property acquisitions and property investment. We work with trusted professionals who create a tailor-made investment strategy for you.
Our financial advice is limited to providing a plan on how to use investment property to achieve your financial goals.
We do not provide any financial advice on specific financial products such as mortgages, insurance, KiwiSaver but we may recommend other professionals who do specialise in those areas.
Fees or expenses
Propellor Property Investments Limited will not charge a fee for the financial advice that is provided to you. However, if you decide to purchase an investment property that we have presented to you then a fee will be payable. The amount depends on several factors which will be explained and outlined in our literature and then is only payable on receipt of an invoice after the contract has been confirmed. Our recommended mortgage broker usually organises to pay this fee from the bank lending for the investment property. The exact fees we will charge will be confirmed at the time the advice is provided.
Conflicts of interest and commissions
We receive a commission from property developers through which we place business via Metropolis Real Estate. Metropolis then pays the funds through to Propellor Property Investments Limited to be able to pay the consultant etc. who sold the property. The amount of the commission we receive depends on the value of the property. Typically, we receive a standard commission of between 3% – 4% of the property value. We will provide more specific details of these commissions once we have talked to you and understand your needs/at the time our advice is given.
To ensure we prioritise our clients’ interests:
- We follow an advice process that ensures our recommendations are made appropriately, based on clients’ goals and circumstances.
- We do not accept any volume based incentives.
- We undergo external review of the advice we provide to ensure it is within industry guidelines.
Complaints handling and dispute resolution
If you are not satisfied with our service or financial advice, please tell us as soon as possible.
Call: (09) 638 7396
Email: info@propellorproperties.co.nz
Write to: Ground Floor, 11 Vinegar Lane, Grey Lynn, Auckland
When we receive a complaint:
- We will consider your complaint and let you know how we intend to resolve it. Where possible, we try to resolve your complaint immediately.
- If we are unable to resolve your complaint immediately, we will acknowledge your complaint within 2 business days. We may contact you to get further information about your complaint.
- We aim to resolve complaints within 10 working days of receiving them. If we need more time to investigate your complaint, we will let you know when you can expect to receive a response to your complaint.
- We will contact you by phone, email or letter to let you know whether we can resolve your complaint and how we propose to do so.
If we cannot agree on how to fix the issue, or if you decide not to use our internal complaints process, you can contact our external disputes resolution scheme, Financial Services Complaints Limited (FSCL). Financial Services Complaints Limited provides a free and independent dispute resolution service that may help to resolve your complaint if we haven’t been able to do so to your satisfaction. To contact FSCL:
Call: 0800 347 257 | +64 4 472 3725
Email: info@fscl.org.nz | complaints@fscl.org.nz
Write to: Level 4, 101 Lambton Quay, Wellington 6011 PO Box 5967, Wellington 6140
Duties information
Propellor Property Investments Limited and anyone who gives financial advice on its behalf, have duties under the Financial Markets Conduct Act 2013 relating to the way we give advice.
We are required to:
- give priority to your interests;
- exercise care, diligence, and skill;
- meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services; and
- meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services.
Contact details
Propellor Property Investments Limited (FSP202485) is the Financial Advice Provider.
Call: (09) 638 7396
Email: info@propellorproperties.co.nz
Write to: Ground Floor, 11 Vinegar Lane, Grey Lynn, Auckland
A written copy of this information is available upon request.
Company Disclosure Statement
Name of Financial Advisor: Propellor Property Investments Limited
Address: 370 Papanui Road, Strowan, Christchurch & grd Floor, 11 Vinegar Lane, Grey Lynn, Auckland
Trading Name: Propellor Properties Investments Ltd
Telephone No: Ph: 03 375 90145 & Ph: 09 638 7366
Email Address: admin@propellorproperties.co.nz
Registration Number: FSP No. 20248537
This statement was prepared on 16 August 2022
It is Important you read this Document
This information will help you to choose a financial adviser that best suits your needs.
It will also provide some useful information about the financial adviser that you choose.
What sort of adviser Are We?
Propellor Property Investments Limited (FSP202485) holds a full Class 2 Financial Advice Providers license. Our Company provides Financial Advice regarding new build residential property acquisitions and property investment tailored to your personal circumstances and goals. We do this to determine what property options would work best for you.
We do not provide any financial advice on specific financial products such as mortgage, insurance, KiwiSaver but we may recommend other professionals who do specialise in those areas.
Conflict of Interest
Whilst we provide advice on Residential Property Investment under the FMA, if you decide to purchase one of the properties that we have presented to you, then we will be Providing the SPA and all relevant information for the property under my Real Estate licence and will, under this, be representing the vendor. You as the Purchaser will be represented by your solicitor. We receive a fee of between 3% – 4% of the property value. This is usually a standard fee that is paid.
What should I do if something goes wrong?
Complaints handling and dispute resolution
We’re committed to making sure our products and services meet your expectations.
We understand that things don’t always go to plan and there may be times when you feel we’ve let you down. If this happens, we want you to tell us. We’ll do our best to put things right as soon as possible or explain something we could have made clearer.
What you can expect to happen
Step 1: Let us know what your concerns are.
Contact us on 03 3759014, email info@propellorproperties.co.nz, or write to us (address to: Complaints Manager – Propellor Property Investments Limited, 370 Papanui Road, Strowan, Christchurch. We will acknowledge your complaint within five business days of receiving it.
Step 2: Our aim is to investigate and resolve your complaint within two weeks. If this is not possible, we will advise you of progress within 10 business days.
Step 3: If after working with us, we have not been able to make it right, we will advise you in writing. If you are not happy with the outcome of your complaint, you can choose to refer the matter to our external disputes resolution scheme, the Financial Dispute Resolution Service (FDRS).
FDRS helps resolve complaints between consumers and their financial service providers. It is a free, independent dispute resolution service that will carry out an impartial investigation. Find out more about the FDRS and how to make a complaint by visiting https://fdrs.org.nz/complaints/ or by emailing enquiries@fdrs.org.nz.
Our duties
Propellor, and anyone who gives financial advice on its behalf, has duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice. We are required to:
- give priority to your interests by taking all reasonable steps to make sure our advice isn’t materially influenced by our own interests;
- exercise care, diligence, and skill in providing you with advice;
- meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we have the expertise needed to provide you with advice); and
- meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services.
This is only a summary of the duties that we have. More information is available by contacting us, or by visiting the Financial Markets Authority website at https://www.fma.govt.nz.
Fees or expenses
Propellor Property Investments will not charge a fee for the financial advice that is provided to you. However, if you decide to purchase an investment property from us then a fee will be payable. The amount depends on several factors which will be explained and outlined in our literature and then are only payable on receipt of an invoice after the contract has been confirmed. Our recommended Mortgage broker usually organizes to pay this fee from the bank lending for the investment property.
Declaration
I, Nicolette Louise Connors, Principal of Propellor Property Investments, declare that to the best of my knowledge and belief the information provided in this Disclosure Statement is true and complete and complies with the disclosure requirements in the Financial Markets Conduct Act 2013 (FMCA) and the new Financial Advisers (Disclosure) Regulations on 15 March 2021.
Signed by:
………………………………………………………………………..
Nicolette Connors
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