CLEARWATER WEALTH PARTNERS
Meeting Notes
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CLIENT: Chen Household (Sam & Alex Chen)
DATE: September 7, 2022
MEETING: 2022 Q3 Quarterly Review
ADVISOR: Sarah Chen, CFP® | Clearwater Wealth Partners
LOCATION: Conference Room A, Clearwater Wealth Partners
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DISCUSSION SUMMARY
Portfolio stands at $786,000 — still depressed from the bear market but beginning to
show signs of stabilization as equity markets bounced in July before pulling back in
August. The advisor emphasized the importance of the bear market context: the plan is
long-term, the 60/35/5 allocation is doing its job, and the TLH harvest executed in
Q2 means the losses are being used productively.
The UECIY replacement fund (purchased after the UECIX harvest) has now been held for
more than 30 days, clearing the wash-sale window. The $15,500 TLH carryforward is
locked in and available for use in 2022 or carried to future years. The advisor noted
this will be highly valuable in 2023 when the NLTK liquidity event generates
significant capital gains.
The Q3 NLTK vest was 625 shares at $37 per share. Protocol: 450 sold, 175 retained.
Cumulative retained position approximately 2,625 shares at blended basis near $33.
At current price of $37, the position is valued at $97,125 — approximately 12.4% of
portfolio. Concentration is elevated and the advisor confirmed that the 2023 event
plan, which liquidates the majority of the position, is the correct response.
The advisor reviewed the 529 accounts: Maya at $28,900 and Eli at $24,600. Both
accounts have declined modestly due to the bond market drawdown in the age-based
funds. The advisor noted this is expected and appropriate — the funds are designed to
reduce risk as the student approaches college age.
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ACTION ITEMS
1. Confirm TLH carryforward of $15,500 with CPA — lock in for 2023 offset
2. Clearwater Giving Fund: confirm account opening on track for January 2023
3. Monitor NLTK concentration — confirm 2023 event plan remains on schedule

4. 529 contributions continue on schedule; no changes warranted
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CONFIDENTIAL — For client use only. Not for distribution.
