CLEARWATER WEALTH PARTNERS
Meeting Notes
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CLIENT: Chen Household (Sam & Alex Chen)
DATE: September 8, 2021
MEETING: 2021 Q3 Quarterly Review
ADVISOR: Sarah Chen, CFP® | Clearwater Wealth Partners
LOCATION: Conference Room A, Clearwater Wealth Partners
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DISCUSSION SUMMARY
Three months post-home-purchase, the portfolio has rebuilt to $724,000. The Chens'
cash savings are being redirected from the down payment goal back to the investment
portfolio and 529 accounts, which accelerates recovery. The new household budget
reflecting the mortgage payment was reviewed — the Chens are operating within
budget with approximately $2,500/month available for additional savings.
The Q3 NLTK vest occurred in August: 625 shares at $39 per share. Protocol: 450 sold
($17,550), 175 retained. Cumulative retained position is now approximately 2,100
shares at a blended basis near $33. The position is valued at approximately $81,900 —
about 11.3% of portfolio. The advisor flagged that the concentration is approaching
the 15% ceiling and that future vests should maintain or increase the sell quantity.
The 529 accounts were reviewed. Maya's account is at $19,400 and Eli's is at
$16,800. With the home purchase complete, the Chens agreed to increase 529
contributions to $4,500 per year for Maya and $4,000 for Eli. The accounts are on
track but will need supplemental income at the time of college enrollment unless
contributions increase further.
The tiered fee schedule (effective July 1) was confirmed as implemented. The first
billing under the new structure applied to the July quarterly fee, and the Chens
confirmed they received and reviewed the updated fee statement.
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ACTION ITEMS
1. Increase 529 annual contributions: Maya to $4,500/year, Eli to $4,000/year —
effective January 2022
2. Monitor NLTK concentration — flag if retained position exceeds 13.5% of AUM

3. Review Q4 estimated tax payment with CPA — higher AGI due to home purchase year
+ three vests
4. Plan 2022 goals: portfolio recovery, 529 acceleration, NLTK winding down
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CONFIDENTIAL — For client use only. Not for distribution.
