Add bacon to a large pot or Dutch oven and cook over medium-high heat for 5 minutes or until bacon is browned and crisp. Using a slotted spoon, transfer the bacon onto a plate lined with paper towel. Drain the fat from the pot.

Melt the butter in the same pot over medium heat. Add the onion and cook, stirring occasionally, for 5 minutes until softened. Stir in the flour and cook, stirring for 30 seconds to cook the flour. Add the salt, pepper and nutmeg.

Gradually stir in the broth and milk, whisking to remove any lumps. Add potato. Bring to a boil then reduce the heat to medium-low. Simmer, partially covered for 15 minutes. Add the broccoli and cook, partially covered, for 10 minutes or until the potato and broccoli are tender.

Add 2 cups of cheese, the sour cream, most of the bacon and ham. Stir until well combined, hot and the cheese is melted.

Spoon the soup into warm bowls. Top with remaining bacon and sprinkle with remaining cheese. Sprinkle with a little cayenne if desired. Serves 8.