CLEARWATER WEALTH PARTNERS Annual Client Meeting Summary | 2021
Annual Client Meeting Summary — Tax Year 2021
Chen Household | Client ID: HHnCHENn001 | Clearwater Wealth Partners
DOCUMENT METADATA
DocID: DOCnMeetingNotesn2021n001
MeetingID: MtgIDn2021Q4n01 (primary annual summary; see also MtgIDn2021Q2n01 home purchase planning)
IPS Version: DOCnIPSAmendmentn2020n001 (in effect throughout 2021; see also DOCnFeeAmendmentn2021n001)
Client: Alex & Sam Chen | HHnCHENn001 | DOB: 1983n05n14 / 1984n11n02
Advisor: Clearwater Wealth Partners | Prepared: January 2022
Dependents: Maya Chen (DOB 2011n08n19) | Eli Chen (DOB 2014n03n07)
KF Refs: KFnMarketOutlookn2021.md, KFnHomenPurchasenLiquidity.md, KFnFeenSchedulenCompliance.md
PORTFOLIO SNAPSHOT
YearnEnd AUM: $952,000
Quarterly AUM: Q1: $825K | Q2: $870K | Q3: $905K (postndown payment) | Q4: $952K
Allocation: 60% Equity / 35% Fixed Income / 5% Cash (IPSn2020; yearnend)
S&P; 500 Return: +27.0% (reopening rally; inflation emergence)
Net Contributions: $10,000 net (gross contributions offset by $55K home down payment outflow Q3)
1.00% flat through June 30; tiered 0.85%/0.70% effective July 1
Advisory Fee Rate:
(DOCnFeeAmendmentn2021n001)
ANNUAL SUMMARY
2021 was a transformational year for the Chen household, marked by two defining milestones: the purchase of a primary residence
and a fee schedule amendment that introduced tiered pricing. The S&P; 500 returned +27% in the reopening year, driving strong
portfolio gains that absorbed the $55,000 down payment outflow in Q3 and still delivered yearnend AUM of $952,000.
DecisionIDn2021n141 executed the home down payment staging: STBIX liquidation and a UECIX trim funded the ACCTnCASH
balance, which was drawn in Q3 for the home purchase. The household transitioned from standard to itemized deductions for the
first time (TaxTopicIDn2021n01), with mortgage interest, capped SALT, and charitable giving exceeding the standard threshold.
AGI reached approximately $287,000.
DOCnFeeAmendmentn2021n001 (executed June 20, effective July 1) replaced the original 1.00% flat advisory fee with a tiered
schedule: 0.85% on the first $1.5M, 0.70% on the next $1.5M, and 0.55% above $3M. This amendment is the origin point of Story
Arc 3: a subsequent version of the 2022 Annual Strategy Deck (DOCnStrategyDeckn2022n002, draft) will erroneously reference
'1.00%' in the footer, creating a document inconsistency surfaced in 2026.
DECISIONS MADE
Decision IDs: DecisionIDn2021n141; DOCnFeeAmendmentn2021n001
DOCnMeetingNotesn2021n001 | Client: Chen Household (HHnCHENn001) | CONFIDENTIAL Page 1

CLEARWATER WEALTH PARTNERS Annual Client Meeting Summary | 2021
Decision ID Description Date / Window Outcome / Status
DecisionIDn2021n141 Home down payment staging: raised ACCTnCASH to 2021nQ2 to Implemented. Home
~$110,000 in Q2nQ3 2021 for down payment + closing costs. 2021nQ3 purchase closed
Liquidated STBIX, trimmed UECIX. Net outflow ~$55,000 in ~2021nQ3.
Q3.
DOCnFeeAmendmentn2 Fee schedule amendment executed June 20, 2021. Tiered 2021n06n20 Executed and in effect.
021n001 rate effective July 1: 0.85% on first $1.5M; 0.70% on next (Story Arc 3 begins.)
$1.5M; 0.55% above $3M.
LIFE EVENTS & UPDATES
Event IDs: EventIDn2021n01; DOCnFeeAmendmentn2021n001 (Story Arc 3 origin)
Event Description / Impact
EventIDn2021n01 Home purchase: Alex and Sam Chen purchased primary residence. Down payment + closing costs funded
from ACCTnCASH and STBIX liquidation (~$55,000 Q3 outflow). Mortgage interest and property taxes now
eligible for itemized deduction. IRS Form 1098 received; deduction modeled vs. standard deduction.
Fee Amendment DOCnFeeAmendmentn2021n001 signed June 20: tiered advisory fee schedule replaces original 1.00% flat
rate effective July 1, 2021. Note: An early draft of the 2022 Annual Strategy Deck
(DOCnStrategyDeckn2022n002) will incorrectly reference '1.00%' in the footer — the FINAL deck
(DOCnStrategyDeckn2022n003) correctly reflects the tiered schedule.
RECOMMENDATIONS
Rec IDs: RecIDn2021n01; GoalIDn2016n01/02/03
Rec / Goal ID Description Status
RecIDn2021n01 Cashflow worksheet + home readiness plan delivered; coordinated ACCTnCASH Implemented
drawdown.
GoalIDn2016n01 Retirement confidence strong despite Q3 portfolio drawdown for home purchase. On track
GoalIDn2016n02 529A (Maya) / 529B (Eli) funded; agenbased moderate portfolio in place. On track
GoalIDn2016n03 Emergency fund rebuilt postnpurchase; target 6 months maintained. Rebuilding fi On
track Q4
TAX TOPICS DISCUSSED
Tax Topic IDs: TaxTopicIDn2021n01
Topic Summary
TaxTopicIDn2021n01 Home purchase itemization and cash planning: First year of itemized deductions — mortgage interest + SALT
($10K cap) + charitable ($4,500) exceed standard deduction. AGI approx. $287,000 (Wn2 $250K + $12K other
+ $18.5K net cap gains). Net cap gains ~$18,500 from down payment liquidation and routine rebalancing. RSU
vest income included in Wn2. See KFnHomenPurchasenLiquidity.md.
ACTION ITEMS
DOCnMeetingNotesn2021n001 | Client: Chen Household (HHnCHENn001) | CONFIDENTIAL Page 2

CLEARWATER WEALTH PARTNERS Annual Client Meeting Summary | 2021
Task ID Description Owner Due Date Status
TaskIDn2021Q2n017 Execute STBIX / UECIX liquidation for down payment per Ops 2021n07n15 Completed
DecisionIDn2021n141.
TaskIDn2021Q2n018 Obtain signed copy of DOCnFeeAmendmentn2021n001; Advisor 2021n07n01 Completed
file in client vault.
TaskIDn2021Q4n019 Model itemized vs. standard deduction for TY2021 tax Advisor 2022n02n15 Completed
return.
TaskIDn2021Q4n020 Rebuild ACCTnCASH emergency fund; target 6 months Client 2022n03n31 Completed
by Q1 2022.
TaskIDn2021Q4n021 Update strategy deck footer to reflect tiered fee schedule. Advisor 2022n01n31 See Note —
version conflict
in 2022
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. © 2022 Clearwater Wealth Partners. All rights reserved.
DOCnMeetingNotesn2021n001 | Client: Chen Household (HHnCHENn001) | CONFIDENTIAL Page 3
