Douglas V. Nelson B.Comm. (hons.), CFP, CLU, MFA, is a Financial Planner and Associate Portfolio Manager based out of Winnipeg. His practice transitioned out of his fathers practice that began in 1966. Since 1992 the Nelson group has continued to search for ways to generate more revenue while also eliminating situations where the advisor would consistently give away their time in the hope of establishing a tighter bond with the client. The challenges faced by the Nelson group where threefold:

- How do you begin to charge fees to clients who have never had to pay fees in the past?
- Where do “commissions” end and “fees” begin? How do you explain this to a client?
- How do you eliminate the injustice of the top 20% of your clients subsidizing the bottom 80% of your clients?

The answer to the above three questions were found when they developed a unique way to convert their investment practice to a “fee only” model. This new model was launched to clients in early 2003. Since then over 90% of their client base has converted to this structure proving that if a change is in the client’s best interest, the client will make the change. The Nelson approach is based on a defined and consistent Risk Management and Portfolio Monitoring Process. The Nelson approach has reduced the cost of total money management fees by 10% to 50%, has provided more tangible and specific value to the client, while also generating 30% additional revenue for the Nelson Group.

Over the past several years Doug has worked with many advisors through the process of building their own unique fee based Risk Management services and transitioning their investment business in a smooth and orderly fashion. Based on this work Doug has published a course through the Knowledge Bureau entitled Portfolio Risk Management.

Douglas is also the author of the Advising Family Businesses course and a faculty member of the Knowledge Bureau. Doug is an active industry participant who has been published in Advisors Edge and has spoken at several major conferences including the Strategy Institute, the CAIFA Winnipeg Chapter, the CAFP Winnipeg Chapter, the Distinguished Advisor Conference (2004, 2005 and 2006) and other groups including the Royal Bank and the Bank of Montreal.