CLEARWATER WEALTH PARTNERS Annual Client Meeting Summary | 2023
Annual Client Meeting Summary — Tax Year 2023
Chen Household | Client ID: HHnCHENn001 | Clearwater Wealth Partners
DOCUMENT METADATA
DocID: DOCnMeetingNotesn2023n001
MeetingID: MtgIDn2023Q4n01 (primary; key event meetings MtgIDn2023Q2n01 liquidity event, MtgIDn2023Q3n01 DAF + NLTK)
IPS Version: DOCnIPSAmendmentn2020n001
Client: Alex & Sam Chen | HHnCHENn001 | DOB: 1983n05n14 / 1984n11n02
Advisor: Clearwater Wealth Partners | Prepared: January 2024
Dependents: Maya Chen (DOB 2011n08n19) | Eli Chen (DOB 2014n03n07)
KF Refs: KFnMarketOutlookn2023.md, KFnDAFnMechanics.md, KFnConcentratednStocknStrategies.md,
KFnCharitablenTaxnBenefits.md
PORTFOLIO SNAPSHOT
YearnEnd AUM: $1,140,000
Quarterly AUM: Q1: $920K | Q2: $1,020K (liquidity event) | Q3: $1,080K | Q4: $1,140K
62% Equity / 33% Fixed Income / 5% Cash (yearnend; NLTK concentration
Allocation:
managed)
S&P; 500 Return: +24.0% (AI boom; disinflation narrative)
Net Contributions: $100,500 net (includes large NLTK vest + DAF donation)
Advisory Fee Rate: Tiered: 0.85% on first $1.5M (DOCnFeeAmendmentn2021n001)
ANNUAL SUMMARY
2023 was the most consequential financial year for the Chen household since onboarding, anchored by a significant NLTK RSU
liquidity event and the AUM milestone of crossing $1 million. The S&P; 500 returned +24%, driven by AI sector enthusiasm and a
disinflation narrative, while the Chens' own equity comp created elevated concentration risk requiring active management.
DecisionIDn2023n349 orchestrated the response: 2,667 NLTK shares vested in April at $45/share ($120,015 Wn2 income). Of
the shares, 1,800 were sold to diversify (realizing $54,000 gross LT gains against a $15/share basis), offset by the $12,500 TLH
carryforward from 2022 to net $42,000. An additional 556 shares were donated directly to the newly opened Clearwater Giving Fund
(DAF, GoalIDn2023n01) at $45 FMV — generating a $25,020 charitable deduction with zero capital gain recognition.
The highnincome year (AGI ~$426,000) required Q2 and Q3 estimated tax payments and careful bunching strategy
(TaxTopicIDn2023n01). A referral from Alex at Clearwater Tech — Alex Navarro (ProspectIDn2023n01) — was introduced in
Q3, sharing a similar equity comp profile. 529 accounts received a 'tunenup' in Q3 confirming both Maya's (2029) and Eli's
(2032) college funding trajectories remain on track.
DECISIONS MADE
Decision IDs: DecisionIDn2023n349
DOCnMeetingNotesn2023n001 | Client: Chen Household (HHnCHENn001) | CONFIDENTIAL Page 1

CLEARWATER WEALTH PARTNERS Annual Client Meeting Summary | 2023
Decision ID Description Date / Window Outcome / Status
DecisionIDn2023n349 NLTK liquidity event + DAF funding: 2,667 shares NLTK 2023n04n10 to Implemented.
vested April 2023 @$45 FMV = $120,015 Wn2 income. Of 2023n06n30 Concentration reduced;
vested shares: 1,800 sold @$45 avg (basis $15 per share, DAF funded.
3nyr LT) = $54,000 gross LT gains. After $12,500 TLH
carryforward from 2022: $42,000 net LT gains. 556 shares
donated to Clearwater Giving Fund (DAF) @$45 FMV =
$25,020 charitable deduction (zero cap gain on donated
shares).
LIFE EVENTS & UPDATES
Event IDs: EventIDn2023n01; GoalIDn2023n01
Event Description / Impact
EventIDn2023n01 Liquidity event + DAF creation: Major NLTK RSU vest creating singlenstock concentration risk ($120K Wn2 +
remaining shares). Clearwater Giving Fund (DAF) opened at Clearwater Trust (GoalIDn2023n01). NLTK
concentration reduced from >12% to <7% of total AUM via sales and donation. 529 'tunenup' also completed:
contribution targets reviewed for Maya (2029 college) and Eli (2032 college).
RECOMMENDATIONS
Rec IDs: RecIDn2023n01; GoalIDn2016n01/02; GoalIDn2023n01
Rec / Goal ID Description Status
RecIDn2023n01 DAF for highnincomenyear charitable giving: donate appreciated NLTK shares to Implemented
DAF; deduct at FMV with zero cap gain.
GoalIDn2016n01 Retirement confidence materially improved postnliquidity event; AUM crosses $1M On track — ahead
milestone.
GoalIDn2016n02 529A/B funding reviewed; on track for Maya 2029/Eli 2032 college targets. On track
GoalIDn2023n01 Valuesnbased giving plan established; annual grant schedule to be set in 2024 Q4 Established
meetings.
TAX TOPICS DISCUSSED
Tax Topic IDs: TaxTopicIDn2023n01
Topic Summary
TaxTopicIDn2023n01 Highnincome year estimated taxes + DAF bunching: 2023 was a peak AGI year (~$426,000): Wn2 $262K +
RSU/NLTK other income $120K + net cap gains $42K + int/div $2.1K, offset by $25K DAF deduction. Q2 and
Q3 estimated tax payments required; IRMAA implications modeled. Capital loss carryforward of $12,500 (from
TY2022) fully applied against 2023 LT gains. See KFnDAFnMechanics.md, KFnCharitablenTaxnBenefits.md,
KFnConcentratednStocknStrategies.md.
ACTION ITEMS
DOCnMeetingNotesn2023n001 | Client: Chen Household (HHnCHENn001) | CONFIDENTIAL Page 2

CLEARWATER WEALTH PARTNERS Annual Client Meeting Summary | 2023
Task ID Description Owner Due Date Status
TaskIDn2023Q2n026 Execute NLTK sales and DAF donation per Ops 2023n06n30 Completed
DecisionIDn2023n349.
TaskIDn2023Q2n027 Open Clearwater Giving Fund (DAF) and transfer 556 Ops + Client 2023n05n31 Completed
NLTK shares.
TaskIDn2023Q3n028 529 tunenup: review contribution schedule for Maya 2029 Advisor 2023n08n15 Completed
and Eli 2032.
TaskIDn2023Q4n029 Set recurring annual DAF grant schedule; document in Client + 2024n01n15 Completed
GoalIDn2023n01. Advisor
TaskIDn2023Q4n030 Note for 2024: introduce estate refresh given health Advisor 2024n01n15 Completed — E
considerations (family context). ventIDn2024n0
1 triggered
PROSPECTS & REFERRALS
Prospect ID Name / Context Stage
ProspectIDn2023n01 Alex Navarro — colleague of Alex at Clearwater Tech Corp. Warm introduction made Warm intro — discovery
Q3 2023. Similar equity comp profile (RSUs). Discovery meeting tasks assigned. pending
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. © 2024 Clearwater Wealth Partners. All rights reserved.
DOCnMeetingNotesn2023n001 | Client: Chen Household (HHnCHENn001) | CONFIDENTIAL Page 3
