Brad Stark is a Principal and Co-Founder of Mission Wealth which has been recognized as one of America’s “Top Wealth Managers” for the past nine years. Brad is a member of the firm’s Executive Management and Investment Committees and is responsible for the firm’s client fulfillment process. It is his visionary excellence in the financial industry that drives the strategic direction of the firm.
Brad graduated from University of California, Santa Barbara with a Bachelor of Arts in Business Economics and later completed a Masters of Science in Financial Planning from College of Financial Planning. After completing his undergraduate education, John Hancock, one of the oldest and largest financial firms in the nation, recruited him into the financial industry. He was later asked to join the company’s high net worth division, “Signature Financial Network,” where he went on the “lecture circuit” talking about estate and investment planning. In 2000, Brad co-founded Mission Wealth, a firm built on the foundation of providing comprehensive, objective and independent advice to high net worth families. With twenty years of experience, Brad was named by the Pacific Coast Business Times as a “Top 40 Under 40”business leader in 2004 and has been recognized annually in “Who’s Who In Banking and Finance” edition since 2005. In 2011, Brad was ranked as one of America’s “Top 100 B/D Advisors” by Registered Rep magazine.
Since 1993, Brad has been a sought-after speaker on various financial topics for both public and private organizations, including: Northrop Grumman, Hughes Aircraft, McDonnell Douglas, the County of Los Angeles, Lockheed Martin, University of Southern California, Screen Actors Guild and the Charles Schwab 2007 Leadership Meeting. Brad has also been an adjunct professor for the California State University system teaching corporate finance at the California State University Channel Islands campus.
Born and raised in Los Angeles, Brad and his wife, Tammy, have enjoyed living in Westlake Village for the past fifteen years. His interests include travel, golf, sports and music.
BA, Business Economics, University of California, Santa Barbara
From your required minimum distributions you can send up to 100% of the RMD or to a max $100,000, whichever is lower, directly to charity. Writing a check is one of the preferred methods. Keep in mind that you will receive a 1099-R that does not show that the money went to charity. You have to make that adjustment when you report your taxes on your 1040.
Dividends are taxed separately from capital gains. They are not related to one another.
Based upon your profile, hiring a professional adviser to assist you with the asset allocation and implementation to go along with financial planning seems like a worthwhile venture since you are not going to do this on your own. I would suggest that you look for independent Registered Investment Advisors that cater to the level of assets and service model that you are looking for. I would also tend to gravitate towards certified financial planners as a background. You can find these people through the CFP online referral website.
While preferred stock has "stock" in its name it is often times and realistically an alternative to a traditional Bond issuance by the company. And preferred stock should be looked at as a "bond" vs. stock. Be careful in this area, unless the income floats with interest rates, you can get locked into what is in essence a tremendously long fixed bond that will react VERY unfavorably to higher interest rates (I.e. duration risk).
In order for you to have the entire investment being donated subject to tax deductibility in total, it has to be long-term capital gains for starters. Then the best ways to donate the stock are to either contribute it to a Donor Advised Fund or gift the stock in kind to a charity. Most Charities have a brokerage account for which they will give you the account number and you can transfer the stock to them. A Donor Advised Fund is actually a lot easier. Due to the new tax laws you will have to see how you are subject to the new itemized deduction rules versus standard deduction that will work out for you from a tax perspective.