CLEARWATER WEALTH PARTNERS
Client Meeting Transcript
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CLIENT: Chen Household (Sam & Alex Chen)
DATE: June 10, 2026
TIME: 2:00 PM
MEETING: 2026 Q2 Quarterly Review
LOCATION: Conference Room A, Clearwater Wealth Partners
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TRANSCRIPT
[0:00] Sarah Chen: Good afternoon. Two things worth celebrating today: the portfolio
crossed $1.5 million in April — you're now in the 0.70% fee tier on the excess — and
I have the Maya 529 front-load scenario analysis ready. Markets are up about 6%
year-to-date. Portfolio is at $1,521,000. A clean, strong quarter.
[0:04] Alex Chen: The fee tier — you sent the notification in April. We saw it.
Walk us through the actual dollar impact.
[0:05] Sarah Chen: At $1,521,000 AUM, here's the billing math. The first $1,500,000
is billed at 0.85% annually — that's $12,750 per year. The $21,000 above $1.5 million
is billed at 0.70% — that's $147. Total advisory fee: $12,897 per year, or $3,224 per
quarter. Prior to crossing the tier, you were paying $12,929 per year on the full
balance at 0.85%. So the crossing actually saved you $32 this quarter — a small
amount now, but the savings grow as the AUM grows.
[0:09] Sam Chen: That math makes sense. As the portfolio grows above $1.5M, more
and more is at the lower rate.
[0:10] Sarah Chen: Exactly. When you reach $2 million — potentially 3 to 4 years out
at your trajectory — the blended rate on the full portfolio will be approximately
0.79%. At $3 million, approximately 0.75%. The structure rewards growth.
[0:12] Alex Chen: The Maya 529 analysis — what did you model?
[0:13] Sarah Chen: Three scenarios. Scenario A: continue current $4,000/year
contributions. Projected balance at matriculation: $49,200 — covers 34% of projected
costs. Scenario B: increase contributions to $8,000/year for the next three years.
Projected balance: $62,400 — covers 43%. Scenario C: execute the 5-year front-load
election — contribute $90,000 now across the next 12 months. Projected balance:
$147,000 — covers approximately 100%.
[0:17] Sam Chen: Scenario C is compelling but $90,000 is a big number. What's the
impact on retirement planning?
[0:18] Sarah Chen: I modeled it. At $1,521,000 today, contributing $90,000 over 12
months reduces the portfolio growth trajectory by approximately $5,000 in expected
retirement income per year at 65 — about a 1.5% impact on projected retirement

spending. That's real but small relative to the benefit of fully funding Maya's
education. My recommendation is Scenario B as the middle path — increase to
$8,000/year, which is very manageable, and supplement with income at the time.
[0:21] Alex Chen: We'd like to go with Scenario C. The front-load.
[0:22] Sam Chen: We've talked about it — we want Maya to start college without
the family stressed about tuition. The retirement impact is manageable.
[0:23] Sarah Chen: I respect that decision. The front-load election requires a
specific 529 form — I'll have it ready for your signature this week. We'll spread the
$90,000 over four quarterly contributions of $22,500 — that avoids a large single
cash outflow and keeps the investment timing diversified.
[0:26] Alex Chen: $22,500 per quarter — from ACCT-CASH?
[0:27] Sarah Chen: Primarily. ACCT-CASH is at $28,000. We'll fund the first
contribution from there, and plan subsequent contributions from income over the next
year. I may also recommend trimming some appreciated UECIY shares from ACCT-TAXABLE
if ACCT-CASH gets drawn down too much — we'll keep the emergency fund at a minimum of
$15,000 at all times.
[0:29] Sam Chen: That works.
[0:30] Sarah Chen: Action items: Maya 529 5-year front-load election form ready for
signature this week; first $22,500 contribution from ACCT-CASH in June; subsequent
contributions from income over next year; ACCT-CASH minimum $15,000 maintained.
Eli 529 — no changes. On track with $32,800 balance and 9 years to college.
[0:30] Meeting adjourned
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ACTION ITEMS
1. Prepare Maya 529 5-year front-load election form for client signature — this
week
2. First $22,500 529 contribution from ACCT-CASH — June 2026
3. Plan subsequent $22,500 contributions (Q3 2026, Q4 2026, Q1 2027) from income
4. Maintain ACCT-CASH minimum $15,000 emergency buffer throughout front-load
period
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CONFIDENTIAL — For client use only. Not for distribution.
