Nelson Advisory Services is a dual-registered firm based in Winter Park, FL, that holds a 75.5/100 Fidelon TransparencyScore (th percentile), with 1 registered advisor. Score based on public SEC and FINRA filings.
Nelson Advisory Services
Nelson Advisory Services, INC. · CRD #337576
A dual-registered firm offering both advisory and brokerage services with a clean record.
Fidelon Fact Sheet
Nelson Advisory Services, Inc. has a clean regulatory record with zero complaints or fines. The firm is an investment adviser in Winter Park, Florida that manages investment portfolios and helps with financial planning. It also sends out investment newsletters. The firm is paid by asset-based fees and fixed fees. It reports custody of client assets, which means it or a related party can hold or access client funds.
Peer Context
How This Firm Works
Registration & Standard of Care
Dual-Registered — this firm operates as both an investment adviser (fiduciary) and a broker-dealer. Some services come with fiduciary protection, while brokerage services may involve commissions.
How This Firm Gets Paid
- Charges a percentage of assets under management
- Charges fixed fees for specific services
- Representatives can earn commissions on product sales
What you’d pay
Your balance falls in the $0 - $999,999 band, charged at 1.80% on the full amount.
This fee is negotiable
Nelson Advisory Services, INC. states in its Form ADV that advisory fees may be negotiated.
From their Form ADV Part 2A. Most investors never ask.
Not included above
- • Brokerage and custody costs including commissions or other fees on trades, asset-based pricing, prime broker or trade away fees, short term redemption fees (8.5% of trade value with a maximum of $49.95), redemption fees, short settlement fees (based on cents per share, percentage of transaction value or both), separate account manager fees, mutual fund expenses (as detailed in prospectus under Shareholder Fees and Annual Fund Operating Expenses), no transaction fee (NTF) funds service charge of $25 at Schwab, flat fee planning from $100 to $10,000, hourly planning from $200 per hour to $1,000 per hour.
Estimated from the firm’s Form ADV Part 2A brochure — not a quote. Actual fees are set in your agreement and may differ. Costs charged by others (custodians, fund managers) are not included.
What This Firm Charges
| Account Size | Annual Fee |
|---|---|
| $0 - $999,999 | 1.80% |
Billed the fees are payable quarterly in arrears.
Extracted from Form ADV Part 2A brochure
Specializations
Extracted from Form ADV Part 2A brochure
Key Findings
Strengths
- Registered as investment adviser with fiduciary obligation
- Clean regulatory record — no disclosures, arbitrations, or fines
Things You Should Know
- Also operates as a broker-dealer — may not always be required to put your interests first
Conflict Audit
Multiple structural conflicts identified in regulatory filings. These are disclosed business arrangements — worth asking about, not disqualifying.
Source: Form ADV Part 1, Items 6-8; Part 2A, Items 10-14
Regulatory Track Record
0
Disclosures
Clean record — no disclosures found
$0
Total Fines
Clean record — no fines found
Regulatory Events
TransparencyScore Dimensions
Disclosure Record
Customer complaints, arbitrations, and fines. Frequency and recency matter.
99/100
Strong
Avg for dual-registered firms: 66.8 | Top 10%: 97.2
Filing Quality
How clearly the firm describes services, fees, and investment approach in regulatory filings.
90/100
Strong
Avg for dual-registered firms: 70.4 | Top 10%: 80.7
Conflict Disclosure
How openly the firm explains who pays it and what it's paid to sell. The conflict isn't the problem — hiding it is.
73/100
Fair
Avg for dual-registered firms: 62.2 | Top 10%: 79.3
Enforcement History
Past actions taken by the SEC, FINRA, or state regulators, and how well the firm supervised its people.
Insufficient data
Next Steps
Advisor Roster
1 advisor
| Advisor | CRD | Score | Grade |
|---|---|---|---|
| Chester A Cowart | 7465057 | — | — |
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Frequently Asked Questions
What does the TransparencyScore measure?
The TransparencyScore measures how clearly and completely an advisor or firm discloses important information in their regulatory filings — things like fees, conflicts of interest, disciplinary history, and business practices. A higher score means better disclosure quality, not better investment performance.
Where does this data come from?
All data comes from public regulatory filings: SEC Form ADV (Parts 1, 2, and 3), FINRA BrokerCheck, and the SEC's Investment Adviser Public Disclosure (IAPD) database. These are official filings that firms and advisors are legally required to submit.
Does a low score mean they're a bad advisor?
Not necessarily. A low score means the firm's public filings are less transparent — they may use vague language about fees, skip details about conflicts, or have a more complex regulatory history. Some excellent advisors work at firms with poor disclosure practices. The score measures the filing, not the person.
What does dual registration mean for me?
It means your advisor can act as a fiduciary (putting your interests first) for some services and as a broker (suitability standard) for others. The key question to ask: 'For this specific recommendation, are you acting as my fiduciary?' Get the answer in writing.
How often is this data updated?
Fidelon refreshes data from SEC and FINRA sources on a regular schedule. Form ADV filings are updated annually by firms (with amendments throughout the year), and BrokerCheck data is updated as events are reported. Scores are recalculated after each data refresh.
Can an advisor or firm improve their score?
Yes. Scores are based on what's in public filings. A firm that rewrites its ADV brochure in clearer language, discloses conflicts more specifically, or resolves outstanding regulatory issues will see its score improve at the next refresh. The incentive structure is intentional.
Data Sources
Scores are generated using Fidelon's published scoring methodology and reflect the quality of public disclosures, not the quality of investment advice. A firm that improves its disclosures will see its score improve. Fidelon does not provide investment advice.
Verify on SEC IAPD · FINRA BrokerCheck
Last scored: · Score version: 3.8 · CRD #337576