CLEARWATER WEALTH PARTNERS
Meeting Notes
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CLIENT: Chen Household (Sam & Alex Chen)
DATE: December 13, 2017
MEETING: 2017 Q4 / Year-End Review
ADVISOR: Sarah Chen, CFP® | Clearwater Wealth Partners
LOCATION: Conference Room A, Clearwater Wealth Partners
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DISCUSSION SUMMARY
Portfolio ended 2017 at $267,000, up approximately 10% for the year consistent with
broad equity market returns. Asset allocation remained at 70/28/2. The first NLTK
quarterly vest occurred in September: 625 shares vested at $28 per share. Per the
protocol, 450 shares were sold (proceeds of $12,600 reinvested to the portfolio) and
175 shares were retained. Alex confirmed that the employer withheld at the
supplemental rate on the W-2 income. The retained NLTK position is now valued at
approximately $4,900 and represents about 1.8% of portfolio.
The IPS was formally signed at this meeting. Both Sam and Alex reviewed the
investment policy statement in full, including the 70/28/2 target allocation,
rebalancing bands of plus or minus 5%, the NLTK diversification protocol, and the
home purchase reserve designation for ACCT-CASH. The advisor walked through the fee
schedule: 1.00% flat on all assets under management, billed quarterly in arrears.
The 529 college savings accounts for Maya and Eli were discussed but deferred to
2018, pending the home purchase savings timeline. The advisor noted that the annual
gift tax exclusion ($14,000 per person in 2017) allows significant 529 funding
without gift tax concerns, and that the state income tax deduction for 529
contributions is worth capturing. A follow-up analysis will be prepared for Q2 2018.
The estate plan referral was provided. The Chens confirmed they would contact the
attorney in early 2018. Beneficiary designations on retirement accounts were
confirmed as correct.
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ACTION ITEMS
1. Prepare 529 analysis for Q2 2018 meeting — comparing in-state deduction benefit
vs. investment options

2. Confirm Chens schedule estate attorney appointment — follow up by February 1
3. Monitor NLTK next vest (Q1 2018, estimated March) — confirm shares/protocol
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CONFIDENTIAL — For client use only. Not for distribution.
