CLEARWATER WEALTH PARTNERS
Meeting Notes
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CLIENT: Chen Household (Sam & Alex Chen)
DATE: June 9, 2021
MEETING: 2021 Q2 Quarterly Review
ADVISOR: Sarah Chen, CFP® | Clearwater Wealth Partners
LOCATION: Conference Room A, Clearwater Wealth Partners
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DISCUSSION SUMMARY
The home purchase closed in April 2021. Purchase price was $535,000 with a down
payment of $214,000 drawn from ACCT-CASH. Mortgage was originated at a 30-year fixed
rate of 3.10%. The remaining portfolio, excluding ACCT-CASH reserve, stands at
$688,000. The Chens expressed great satisfaction with the purchase and noted that
the four-year savings discipline made the transaction feel manageable.
The revocable living trust was executed in March, just before close. All investment
accounts have been re-titled to the trust. Beneficiary designations on the 401(k)
accounts and life insurance have been updated to reflect the trust. Estate planning
is now substantially complete for this phase of life.
The Q2 NLTK vest occurred in May: 625 shares at $38 per share. Per protocol: 450 sold
($17,100), 175 retained. The advisor confirmed that the vest income — combined with
the year's salary — will push AGI above $350,000 for the first time, entering the 35%
marginal bracket for a portion of income. The CPA should be flagged to model
estimated quarterly tax payments accordingly.
The fee schedule amendment was discussed and agreed upon. Effective July 1, 2021, the
fee structure transitions from 1.00% flat to a tiered schedule: 0.85% on the first
$1,000,000, 0.70% on assets between $1,000,000 and $1,500,000, and 0.55% on assets
above $1,500,000. The advisor provided a worked example showing the net fee reduction
at current AUM levels.
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ACTION ITEMS
1. Send fee amendment documentation to Chens — effective July 1, 2021
2. Notify CPA of Q2 NLTK vest and elevated AGI — model Q3/Q4 estimated payments
3. Update household balance sheet with home equity and revised portfolio balance

4. Confirm all trust re-titling is reflected in custodian records — by July 1
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CONFIDENTIAL — For client use only. Not for distribution.
