Secord was born in Brant, Ontario on July 19, 1860. He was a great grandnephew of War of 1812 heroine Laura Secord. He was educated in Brant, and graduated with honours from Brantford Collegiate Institute. He came to Edmonton by way of Chicago and Winnipeg, arriving September 1, 1881. Upon arriving, he helped build the first public school in Edmonton, and then moved to Pakan, Alberta to teach First Nations children for a year. He returned to Edmonton in 1883 and taught for four years, and then entered the employ of John Alexander McDougall as a clerk. He started his own fur-trading business in 1888, and sold it to the Hudson's Bay Company in 1890. He married schoolteacher Anna Ada York in 1891; the couple had four children. Thereafter, he partnered with McDougall. In 1897, the pair founded McDougall & Secord, which advertised itself as "general merchants, wholesale and retail; buyers and exporters of raw furs; dealers in land scrip and north west lands; outfitters for survey parties, traders, trappers, miners and others for the north, and suppliers for country stores." The two ran the company until 1907, when they sold it and went into business as a financial house and mortgage corporation called McDougall & Secord, Limited, which still existed up until the 20th Century and is now permanently closed. Richard Secord was a land speculator known for committing fraudulent dealings with the localMétis of Edmonton. In some cases, he even impersonated Métis individuals in order to illegally lay claim to their scrip. Both he and his business partner McDougall became vastly wealthy off of this process, which lead to a major dispossession of the Métis and their rights with little to no compensation. In one case, he and McDougall redeemed 48 land scrips for a total of 286, $000 covering an area of 11, 520 acres. Secord was involved in a court case regarding one Métis woman known as Marie Rose Mageau. McDougal & Secord purchased her scrip for a total of $480.00 when the land in question had actually been worth $5000 Secord found himself in legal trouble once again in 1921 when a Métis woman, Flora Taylor, claimed her identity has been impersonated by McDougal & Secord to claim her scrip. Before said case could be brought to trial, Ottawa amended the criminal code with specifics to the Scrip system and instituted a statute of limitations regarding claims of fraud. Once this amendment took place, the charges were dropped against Secord.
Secord had a significant impact on Edmonton through his expenditures of money. He arranged temporary financing for the construction of the city's Low Level Bridge. He also provided financial support to the Thistle Rink and the Misericordia Hospital, and financially backed the Edmonton Journal.
Death and legacy
Secord died January 12, 1935. Edmonton's Secord neighbourhood and Ecole Richard Secord School are named in his honour.