CLEARWATER WEALTH PARTNERS Annual Client Meeting Summary | 2019
Annual Client Meeting Summary — Tax Year 2019
Chen Household | Client ID: HHnCHENn001 | Clearwater Wealth Partners
DOCUMENT METADATA
DocID: DOCnMeetingNotesn2019n001
MeetingID: MtgIDn2019Q4n01
IPS Version: DOCnIPSn2016n001
Client: Alex & Sam Chen | HHnCHENn001 | DOB: 1983n05n14 / 1984n11n02
Advisor: Clearwater Wealth Partners | Prepared: January 2020
Dependents: Maya Chen (DOB 2011n08n19) | Eli Chen (DOB 2014n03n07)
KF Refs: KFnMarketOutlookn2019.md, KFnRevocablenTrustnBasics.md, KFnBeneficiarynBestnPractices.md
PORTFOLIO SNAPSHOT
YearnEnd AUM: $732,000
Quarterly AUM: Q1: $642K | Q2: $668K | Q3: $684K | Q4: $732K
71% Equity / 27% Fixed Income / 2% Cash (IPSn2016; endnofnyear drift slightly
Allocation:
equitynheavy)
S&P; 500 Return: +29.0% (Fed pivot; trade truce)
Net Contributions: $53,500 (annualized net)
Advisory Fee Rate: 1.00% annual (blended; approx. $6,800 billed 2019)
ANNUAL SUMMARY
2019 was the portfolio's strongest year to date, with the S&P; 500 returning +29% as the Federal Reserve pivoted from tightening
to cutting rates and a partial USnChina trade truce removed a major headwind. The Chen household AUM grew to $732,000
yearnend, reflecting contributions and exceptional market performance.
The defining planning milestone of 2019 was the creation of the Chen Family Revocable Trust (EventIDn2019n01, September 10,
2019). Beneficiary designations across IRA1 and RIRA were updated to name the trust as contingent beneficiary and the spouse
as primary. A new cash management account (ACCTnCASH) was opened in January 2019 to serve as the household's
emergency fund and homenpurchase staging vehicle. NLTK concentration remained within the IPS <10% cap, with continued vest
income adding $10,000 in other income to the tax profile.
The household continued to take the standard deduction. AGI reached approximately $267,000. Planning for 2020 centered on
opening 529 education accounts and beginning systematic NLTK diversification as the RSU vest schedule matured.
DECISIONS MADE
Decision IDs: None formal (routine Q3 trim)
Decision ID Description Date / Window Outcome / Status
— Rebalancing drift trim in Q3: sold ~2% equity sleeve to bring 2019nQ3 Within IPSn2016 drift
allocation back within IPS bands. bands; no new DecisionID
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CLEARWATER WEALTH PARTNERS Annual Client Meeting Summary | 2019
LIFE EVENTS & UPDATES
Event IDs: EventIDn2019n01
Event Description / Impact
EventIDn2019n01 Chen Family Revocable Trust created September 10, 2019. Attorney: [Retained counsel]. Trust is primary
beneficiary vehicle for estate assets. IRA1/RIRA updated to: spouse primary; trust/children contingent. Cash
management account (ACCTnCASH) opened January 2019 for emergency fund + future home planning.
RECOMMENDATIONS
Rec IDs: EventIDn2019n01 triggered estate refresh; GoalIDn2016n01/02/03 on track
Rec / Goal ID Description Status
RecID (informal) RSU diversification plan: model systematic sellntondiversify schedule as shares vest. In progress
GoalIDn2016n01 Retirement confidence improving on strong 2019 returns; funded ratio advancing. On track — ahead
GoalIDn2016n02 529 plan opening scheduled for 2020 when expanded cash flow allows. Planned for 2020
GoalIDn2016n03 Emergency fund fully funded; ACCTnCASH now includes homenpurchase staging On track
sleeve.
TAX TOPICS DISCUSSED
Tax Topic IDs: RSU vest income; trustnrelated beneficiary update
Topic Summary
RSU Vest Income Continued RSU vest income (~$10,000 other income). Wn2 $236,000; Net cap gains $7,500; AGI approx.
$267,000. Standard deduction. Trust creation does not create a taxable event (revocable grantor trust).
Trust Planning Estate planning review: beneficiary designations updated across IRA1, RIRA to align with trust structure. See
KFnRevocablenTrustnBasics.md.
ACTION ITEMS
Task ID Description Owner Due Date Status
TaskIDn2019Q4n010 Confirm all account beneficiary forms updated postntrust Client + 2020n01n31 Completed
creation. Advisor
TaskIDn2019Q4n011 Open ACCTn529A (Maya) and ACCTn529B (Eli) in Advisor 2020n03n31 Completed
Q1 2020. 2020nQ2
TaskIDn2019Q4n012 Model home purchase timeline and liquidity requirements. Advisor 2020n04n01 Completed
PROSPECTS & REFERRALS
No active prospects or referrals recorded for this period.
CONFIDENTIAL — For the exclusive use of Alex and Sam Chen and authorized Clearwater Wealth Partners personnel. This document contains
synthetic/demo data created for illustration purposes only. Not investment advice. © 2020 Clearwater Wealth Partners. All rights reserved.
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