CLEARWATER WEALTH PARTNERS
Meeting Notes
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CLIENT: Chen Household (Sam & Alex Chen)
DATE: December 12, 2018
MEETING: 2018 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 closed 2018 at $298,000, down from a June high of $342,000 due to the Q4
2018 equity selloff (S&P 500 down approximately 14% in Q4). The advisor reviewed the
decline with the Chens and confirmed no rebalancing was triggered — allocation
remained within IPS bands. The discussion focused on reinforcing that short-term
volatility is expected and that the plan was built to withstand exactly this kind of
event. No changes to the IPS or allocation were made.
Four NLTK quarterly vests have now completed. Cumulative retained holding is
approximately 700 shares at a blended basis near $28. The NLTK position is now valued
at approximately $24,000, representing about 8% of portfolio — still within the
informal 15% concentration ceiling discussed at inception but worth monitoring as
grants continue. The Q3 2019 cliff vest (which the advisor expects to be a
double-vest, approximately 1,250 shares) was flagged as the most significant
liquidity event since grant inception.
Home purchase savings progress was reviewed. ACCT-CASH is now at $112,000, tracking
ahead of the monthly savings model. At the current pace, the Chens will reach the
$310,000 down payment target by early 2021. No changes to the savings strategy were
made.
Tax planning for 2018 was reviewed. Between NLTK vest income (two vests at
approximately $28/share) and salary growth, the Chens' marginal rate is now 24%.
The advisor recommended that Alex's remaining bonus, if paid in Q1 2019, be
directed partially to the 401(k) to manage bracket exposure. CPA was copied on the
year-end summary.
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ACTION ITEMS

1. Send year-end tax summary to CPA — by January 15
2. Monitor Q1 2019 NLTK vest — confirm sell/hold execution per protocol
3. Flag Q3 2019 cliff vest (estimated 1,250 shares) for advance planning — prepare
analysis Q2 2019
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CONFIDENTIAL — For client use only. Not for distribution.
