UMC Financial Management Inc. (“UMC”) was founded as an Edmonton-based independent corporation by Bob Puech in 1978. UMC serves as both a mortgage lend and as an alternative investment choice for not-for-profit organizations, businesses and individuals across Canada. Specializing in first mortgages and real estate, UMC offers borrowers the opportunity to grow their businesses and investor clients a way to diversify their portfolios, earn a stable source of income and avoid the volatility of the stock market. From its start in 1978, UMC has grown to manage over $300,000,000 in client assets.
Since its inception, UMC has been licensed under the Real Estate Act in Alberta, and due to changes in the financial industry, UMC became registered with the Alberta Securities Commission in 2011 to underwrite and manage mortgage and real estate investments. In addition to being licensed in Alberta, UMC is also licensed with securities regulators in British Columbia, Saskatchewan, Manitoba, Ontario, Quebec, Newfoundland and Labrador, and Northwest Territories.
In 2012, UMC registered as an Investment Fund Manager in Alberta and established UMC Mutual Fund Trust, a pooled fund of over 70 unique mortgage investments, with over $116,000,000 in assets and 234 participants. UMC Mutual Fund Trust was established to allow smaller clients increase the level of diversification in their portfolio while continuing to enjoy strong rates of return and a stable source of income.
Today, UMC continues to grow and meet client needs by successfully adapting to the changing economic, technical and regulatory landscape of the financial industry.
Born in 1937, Bob Puech is a first generation Canadian who grew up in the small town of St. Walberg, Saskatchewan. Moving to Edmonton, Alberta, Bob attended Collège Saint-Jean – now known as University of Alberta’s Campus St. Jean– earning a Bachelor of Arts degree in 1960.
Bob began his career at Fraser Matthews (now part of BDO Canada LLP), developing his skills as an accountant and business consultant. In 1972, Bob founded Harcourt Matthews & Associates Ltd., an independent consulting firm. The establishment of Harcourt Matthews & Associates Ltd. would eventually lay the foundation for UMC Financial Management Inc. (“UMC”). Many of Bob’s clients – who benefited from his consulting expertise – also looked for alternative sources to invest their funds. In 1978, Bob founded United Mortgage Corporation Ltd. (later renamed UMC Financial Management Inc.) as a means to meet his clients’ investment needs. Since its inception, UMC has grown to manage over $300,000,000 in client assets.
On June 30, 2015 Bob officially retired from UMC, after 37 years of service. Bob continues to provide his expertise serving on the firm’s board of directors and also plans to keep busy and enjoy his retirement by spending time with his family, maintaining his garden, and visiting Phoenix in the winter.