CLEARWATER WEALTH PARTNERS
Meeting Notes
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CLIENT: Chen Household (Sam & Alex Chen)
DATE: September 11, 2019
MEETING: 2019 Q3 Quarterly Review
ADVISOR: Sarah Chen, CFP® | Clearwater Wealth Partners
LOCATION: Conference Room A, Clearwater Wealth Partners
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DISCUSSION SUMMARY
Portfolio reached $463,000 in September, driven by the cliff vest proceeds and
continued equity gains. The Q3 cliff vest executed in late August: 1,250 shares
vested at $41 per share. Per the agreed strategy, 900 shares were sold immediately
(proceeds of $36,900 reinvested to the portfolio) and 350 shares were retained. The
DAF donation threshold of $40 was met, but the Chens elected to defer the DAF
strategy to 2020 or the next major vest event rather than execute a donation at this
time. The decision is logged and will be revisited.
NLTK concentration post-vest: the cumulative retained position is now approximately
1,225 shares at a blended basis of approximately $31. At NLTK's current price of $41,
the position is valued at approximately $50,000 — about 10.8% of the $463,000
portfolio. This is within the 15% ceiling but the advisor noted that significant NLTK
appreciation could push the position above the threshold. Selling discipline at
future vests will be critical.
Tax-loss harvesting was executed in September. Two positions in the taxable account —
UECIX (international developed markets fund) and a domestic small-cap fund — had
accumulated losses following the Q4 2018 drawdown recovery. The advisor harvested
$8,400 in losses using IRS-compliant replacement funds (UECIY for UECIX, maintaining
market exposure). The wash-sale 30-day replacement window is being monitored. These
losses will be available to offset 2019 capital gains.
Home purchase update: ACCT-CASH now holds $169,000. The Chens confirmed they will
begin active home searching in Q1 2020. The advisor recommended reaching
$290,000–$310,000 in ACCT-CASH before making an offer to preserve adequate cushion.
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ACTION ITEMS

1. Monitor NLTK concentration — flag if position exceeds 13% of AUM before
year-end
2. Track wash-sale windows on harvested positions — confirm replacement funds can
be re-purchased by October 12
3. Begin mortgage pre-qualification process — referral provided to preferred
lender
4. Send year-end tax summary to CPA including TLH documentation
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CONFIDENTIAL — For client use only. Not for distribution.
