In large skillet combine preserves and water over medium-high heat. Bring to low boil. Reduce heat and simmer five to six minutes or until syrup thickens. Spoon into a bowl and set aside to cool.

Combine nectarines and peaches in mixing bowl. Add brandy. Set aside to soak.

Pour whipping cream into mixing bowl. Whisk until cream starts to form peaks, two to three minutes.

Wipe skillet clean. Place single layer of walnuts in pan and toast over low heat. Stir to prevent burning. Remove from heat when walnuts become aromatic, two to three minutes.

Layer ingredients in tall glass. Refrigerate until ready to serve.