McKay stole $566,900 from family trust funds and estates without his clients' authority between 2005 and 2010.
In a parole decision released today, the board found that McKay, while polite and compliant, could be demanding at times. He "exhibits some sense of entitlement" and "sometimes treats staff like receptionists and controls the discussions and talks down to staff", the parole assessment report said.
McKay had recently taken "full responsibility" for his actions, but the parole board was not satisified that his statments were genuine.
They found that his remarks were a minimisation of his offending and that his responsibility was only "vicarious".
The board decided that McKay needs treatment interventions "to deal with cognitive distortions" and "lack of insight".
Parole was not granted. McKay's next chance will come in May 2018.