CLEARWATER WEALTH PARTNERS Annual Client Meeting Summary | 2024
Annual Client Meeting Summary — Tax Year 2024
Chen Household | Client ID: HHnCHENn001 | Clearwater Wealth Partners
DOCUMENT METADATA
DocID: DOCnMeetingNotesn2024n001
MeetingID: MtgIDn2024Q4n01 (primary; estate meeting MtgIDn2024Q3n01)
IPS Version: DOCnIPSAmendmentn2020n001 (in effect; 2025 bucket amendment in planning)
Client: Alex & Sam Chen | HHnCHENn001 | DOB: 1983n05n14 / 1984n11n02
Advisor: Clearwater Wealth Partners | Prepared: January 2025
Dependents: Maya Chen (DOB 2011n08n19) | Eli Chen (DOB 2014n03n07)
KF Refs: KFnMarketOutlookn2024.md, KFnBeneficiarynCoordination.md, KFnEstatenPlanningnTriggers.md
PORTFOLIO SNAPSHOT
YearnEnd AUM: $1,285,000
Quarterly AUM: Q1: $1,170K | Q2: $1,205K | Q3: $1,230K | Q4: $1,285K
Allocation: 62% Equity / 33% Fixed Income / 5% Cash (IPSn2020; stable yearnend)
S&P; 500 Return: +23.0% (rate cuts begin; election year)
Net Contributions: $48,000 net
Advisory Fee Rate: Tiered: 0.85% on first $1.5M (effective blended ~0.84%)
ANNUAL SUMMARY
2024 was a year of portfolio stability and meaningful estate planning action. The S&P; 500 advanced +23% on the back of the
Federal Reserve beginning a ratencutting cycle and continued AI sector strength. The Chen AUM reached $1,285,000 at
yearnend, with allocation stable at 62/33/5 within IPSn2020 parameters.
The defining event was EventIDn2024n01: a family health development elevated estate planning urgency, triggering a
comprehensive estate and beneficiary audit in Q3. The audit identified a material mismatch: DOCnBeneficiaryFormn2018n001
still named Alex's parent as IRA contingent beneficiary — an artifact from the prentrust era (2016–2019). This was corrected via
DOCnBeneficiaryFormn2024n001, updated to align with the Chen Family Revocable Trust and children as contingent
beneficiaries. The 2018 form was intentionally preserved in the vault as a historical record and AI demo artifact.
Prenretirement planning entered a new phase: with a 9–10 year horizon to Alex and Sam's target retirement, the advisor
initiated scoping of a bucket strategy framework and Social Security claiming analysis, both targeted for delivery in 2025. Annual
DAF grants continued ($6,000 charitable for 2024, GoalIDn2023n01).
DECISIONS MADE
Decision IDs: None formal (routine rebalancing; NLTK vest + diversification continued)
Decision ID Description Date / Window Outcome / Status
— Routine annual rebalancing within IPSn2020 drift bands; no 2024 routine Within IPS bands; no
new formal DecisionID. Net cap gains $14,500 (LTnweighted major trade event
from NLTK vest sales and routine rebalancing).
DOCnMeetingNotesn2024n001 | Client: Chen Household (HHnCHENn001) | CONFIDENTIAL Page 1

CLEARWATER WEALTH PARTNERS Annual Client Meeting Summary | 2024
LIFE EVENTS & UPDATES
Event IDs: EventIDn2024n01
Event Description / Impact
EventIDn2024n01 Family health event triggers estate and beneficiary audit: A health event in the Chen household in midn2024
elevated estate planning urgency. Full estate review conducted Q3 (MtgIDn2024Q3n01). Beneficiary audit
revealed a mismatch: DOCnBeneficiaryFormn2018n001 listed Alex's parent as IRA contingent beneficiary
(prentrust). Corrected to trust/children via DOCnBeneficiaryFormn2024n001. POA and health directive
documents reviewed and updated.
RECOMMENDATIONS
Rec IDs: RecIDn2024n01; GoalIDn2016n01/02; GoalIDn2023n01
Rec / Goal ID Description Status
RecIDn2024n01 Estate refresh: POA and health directive review; beneficiary audit across all accounts. Completed Q3 2024
Complete by Q3.
GoalIDn2016n01 Retirement now 9–10 years away; prenretirement phase planning begins (bucket On track —
strategy scoping). accelerating planning
GoalIDn2023n01 Annual DAF grants reviewed; $6,000 charitable for 2024. On track
GoalIDn2016n02 529A (Maya): $17,500 yrnend; 529B (Eli): $17,500 yrnend. Both on track. On track
TAX TOPICS DISCUSSED
Tax Topic IDs: Estate planning and beneficiary correction; no formal TaxTopicID
Topic Summary
Estate & Beneficiary Beneficiary correction (EventIDn2024n01): DOCnBeneficiaryFormn2018n001 listed Alex's parent as
IRA1/RIRA contingent; corrected to Chen Family Revocable Trust / children via
DOCnBeneficiaryFormn2024n001. Old form retained as historical record. Wn2 $270K; Other income $15K
(RSU vest); Net cap gains $14,500; AGI approx. $302,000. Itemized deduction. See
KFnBeneficiarynCoordination.md, KFnEstatenPlanningnTriggers.md.
ACTION ITEMS
Task ID Description Owner Due Date Status
TaskIDn2024Q3n031 Complete beneficiary audit: update all accounts to align Client + 2024n09n30 Completed — D
with Chen Family Revocable Trust. Advisor OCnBeneficiary
Formn2024n00
1
TaskIDn2024Q3n032 Update POA and health directive documents; file in Client (legal 2024n09n30 Completed
/05_Estate_and_Trust/. counsel)
TaskIDn2024Q4n033 Model bucket strategy framework for 2025 IPS Advisor 2025n01n15 Completed
amendment discussion.
TaskIDn2024Q4n034 Deliver Social Security and retirement income projection Advisor 2025n09n15 Completed — R
update (2025 Q3 target). ecIDn2025n02
PROSPECTS & REFERRALS
No active prospects or referrals recorded for this period.
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CLEARWATER WEALTH PARTNERS Annual Client Meeting Summary | 2024
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. © 2025 Clearwater Wealth Partners. All rights reserved.
DOCnMeetingNotesn2024n001 | Client: Chen Household (HHnCHENn001) | CONFIDENTIAL Page 3
