From his modest beginnings in Aurora, Ontario, Richard McKay’s ambition for an investment firm has been realized. Through the simple philosophy of providing excellent service and solid risk-adjusted returns, MCF Investment Services Inc. is one of the leading non-bank lenders from client referrals and has become an accomplished multi-million dollar asset management firm with hundreds of investors and an upstanding reputation of over 40 years.
Richard was educated at Ryerson University, where he studied Accounting and Finance. After completing his undergraduate degree, Richard worked for Associates Financial Services of Canada Ltd., a giant in the investment industry. He quickly rose to the position of Vice President, becoming one of the youngest executives in the company. Regardless, Richard had a penchant for starting his own investment firm. He finally decided to take the leap in May of 1975, when Richard founded McKay Mortgages in the basement of his home. Building his business from the ground up, Richard spent the next few years establishing clients for syndicated mortgages and creating a solid foundation for the company.
By 1985, Richard’s friend and business associate, Linda B.A. Durant, joined the firm. Prior to joining MCF, Linda held accounting and office management position in a range of different companies. Linda worked alongside Richard in the McKay residence before re-locating to an office on Yonge Street in Aurora, Ontario. During the next 30 years, the company changed its name to MCF Investment Services Inc. and Linda became an integral part of the client service team. She was responsible for investor relations and various day-to-day tasks around the office. Linda has begun the transition to retirement but has managed to maintain communication with investors to this day, setting the groundwork for a stable and successful future for the firm.
In 1996, Sean McKay joined the company, followed by Korin Mellor five years later. In 2006, Richard decided to settle into semi-retirement. Sean continued to assist in the business’ development and, a year later, transitioned the firm’s portfolio of syndicated mortgages into a Mortgage Investment Corporation (MIC). During this time, MCF Investments underwent a series of structural changes and rapid progress. The company’s sudden growth in 2008 called for its expansion. In 2010, MCF acquired a small mortgage company founded by Rob Pirie. The addition of RLS Pirie Mortgages Inc., as well as Rob’s substantial experience in the investment industry, triggered a momentum that carried the company into the next chapter.