Place deep skillet or Dutch oven over medium heat and melt butter and then add oil. Add Parsnips and sautee until lightly brown and tender, about 8 minutes.
Stir in broth and be sure to scrape up any brown bits on bottom of pan. Bring to low simmer and whisk in flour with a fork to light pasty consistency.
Reduce heat and slowly add cream (or milk), use fork to stir until smooth sauce is formed. Adjust liquids/and flour to achieve desired consistency. Add nutmeg and salt and pepper to taste. Stir in baby spinach and cover for 5 minutes or until ready to serve.