Nelson Financial Consultants (NFC) is a name used to represent the overall financial services activities of Doug Nelson and his team. Nelson Financial Consultants does not employ any individuals or provide any services.
Doug Nelson and his team provide three specific types of financial services to their clients: i) fee for service financial planning, ii) discretionary portfolio management and iii) insurance (life, disability, critical illness, long term care) and annuities. To provide these services, the Nelson group is comprised of three different corporate entities: i) Nelson Financial Planning Corp., ii) Nelson Portfolio Management Corp, and iii) Nelson Insurance Services Corp.
The nelson group was structured in this manner partially due to the fact that each of these financial services activities is governed by a different regulatory body:
- Financial Planning: At this time financial planning activities are professional services based on a code of professional conduct and practice and proficiency standards. These standards are set by different industry groups such as the Financial Planning Standards Council (fpsc.ca). To maintain these designations, minimum annual continuing education credits are required.
- Portfolio Management: All portfolio management activities are governed by specific laws of each province in Canada. The principle regulator for Nelson Portfolio Management Corp. is the Manitoba Securities Commission (msc.gov.mb.ca). An ombudsman is also available to Canadians for investments and banking (www.obsi.ca).
- Insurance: All insurance activities are governed by specific laws of each province in Canada. The principle regulator for Nelson Insurance Services Corp. is the Insurance Council of Manitoba (icm.mb.ca).
Due to these different activities and this type of corporate structure, it is important that you are aware of:
- Which corporate entity is providing products or services to you at any point in time.
- Which individuals of the nelson team is licensed and qualified to provide to you these products or services.
- The extent to which there may be a conflict of interest between the products, services or advice between any of the corporate entities.
- The extent to which your personal information may be shared between each of these different corporate entities (which your permission).
To help minimize any potential confusion or conflicts, this website has been structured into four specific sections, where each section is color coded to match the colors of the logo for each corporate entity:
- Nelson Financial Consultants: The “green” section of this website represents the philosophy and approach of Doug Nelson and his team when providing financial services to its client group. This section is broken down into sections such as “pay less tax”, “take less risk”, “reduce fees and expenses”, “retain more income” and “build more wealth”. This section also includes information on Doug’s book “Master Your Retirement”.
- Financial Planning Services: The “mid-blue” section of this website represents the fee for service financial planning services provided through Nelson Financial Planning Corp. (NFPC). This section provides additional disclosures relevant to the activities this corporate entity, as well as the credentials of each member of the nelson team working in this area.
- Portfolio Management Services: The “purple” section of this website represents the portfolio management services provided through Nelson Portfolio Management Corp. (NPMC). This section provides additional disclosures relevant to the activities this corporate entity, as well as the credentials of each member of the nelson team working in this area.
- Insurance Services: The “light blue” section of this website represents the insurance activities provided through Nelson Insurance Services Corp. (NISC). This section provides additional disclosures relevant to the activities this corporate entity, as well as the credentials of each member of the nelson team working in this area.
Should you have any questions or concerns about these different corporate entities or the products or services provided, please contact Doug Nelson at 204-956-0519.
Our Business Objectives and the Sharing of Your Personal Information: It is our objective to provide a more comprehensive and integrated service to a smaller group of clients. Our preferred nelson group client is one who sees value in financial planning analysis. It is our view and experience that the key to long term financial success (where financial success is defined based on the needs, goals and objectives of the individual), is to i) pay attention to the details (such as the 5 great killers of wealth) and ii) to connect the dots between all of the different components of your financial program. We believe that many of the good things achieved in one area of your financial affairs can be undone by just one or two bad outcomes in another area of your financial affairs. Therefore, it is our view that an integrated approach to your financial plan is extremely important.
If you share this view, we would love to speak with you further about your specific issues, questions or goals. It is our view that the ideal approach is to begin with the creation of an overall financial plan, provided to you through Nelson Financial Planning Corp. When we have a good understanding of your situation, then, with your permission, we will transition into specific product solutions for your investment and insurance needs. As noted previously, the investment solutions will be provided through Nelson Portfolio Management Corp. and the insurance solutions will be provided through Nelson Insurance Services Corp. The transition from “the planning process” to implementing specific investment or insurance products is often very natural and seamless, and sometimes within the same meeting. As a client of the nelson group, in many client meetings conversations will often move back and forth between financial planning issues, portfolio issues and insurance issues.
With these thoughts in mind, it is important that you are aware that your personal information WILL BE shared between each of the nelson group corporate entities. The sharing of your personal information is not for the purpose of providing information to an unrelated individual or firm so as to sell specific stand-alone products or services. The purpose of sharing your personal information is to provide to you a seamless and integrated service, driven by the goals and objectives of your overall financial plan, delivered to you by Doug Nelson and his team.
Conflicts of Interest: It is our view that the best way to minimize or avoid conflicts of interest is to look at various financial scenarios or product options through the mathematical calculations of a financial plan. By following this approach it is typically easier to see the pros or cons of various decisions or product choices. Doug Nelson and his team will be mindful of potential conflicts of interest and will disclose these to you in a timely manner, if and when applicable.
Financial Projections Are Not Guarantees: Any time a financial projection is provided to you, the projection is for illustration purposes only and is not a guarantee. We recommend that you update any financial projections provided to you every 12 to 24 months for accuracy and reliability purposes.