Transact’s co-founder and former chief executive, Ian Taylor, has passed away at the age of 58.
In an announcement this morning (October 19), the company said Taylor died peacefully on Monday (October 17) after a short illness.
He co-founded Transact in 1999 with Michael Howard, becoming the platform’s boss in 2002 before leading the helm for 19 years. Under his leadership, the company launched its initial public offering in April 2018.
Current Transact boss Jonathan Gunby said Taylor was a true innovator and “a giant of the industry”.
“He leaves behind a legacy of a transformed world for financial advisers. He will be greatly missed, not least for his razor sharp sense of humour.”
Taylor retired from the business in February 2021, after stepping down as CEO the previous year.
The platform veteran is survived by his wife Frances and three children Patrick, Elizabeth and Annie.
The adviser and platform industries have flooded Twitter with tributes to Taylor.
Nucleus founder and current Seccl CEO, David Ferguson, said he was “heartbroken” and that Taylor was “an absolute treasure".
He added: “A true one-off. Fearsomely smart. Hero to Mrs Miggins. Champion of doing the right thing, especially when no-one was looking. Much love to his family and all at Transact. Go well big guy.”
Ed Dymott, managing director of wealth at Benchmark Capital, said he was “truly devastated” to hear the news of Taylor’s passing.
“He was a genuine pioneer and legend of the industry. Someone who was a competitor, an industry colleague but also a friend.
“I will miss his love of curry, life and his ability to consume pints. Rip big guy.”
NextWealth boss Heather Hopkin referenced Taylor’s favourite cuisine too. “I’ll be having a curry and a beer today as I reflect on the incredible contributions of the legend that was, Ian Taylor. RIP.”
Those in the press also remember Taylor. FTAdviser’s Senior Editor, Simoney Kyriakou, said she recalled him taking “nearly an hour” out of his day when she was a relatively new journalist to explain how Transact worked and how platforms differed from each other.
Former journalist Charlotte Francis agreed that Taylor was always “so kind with his time”.
She recalled: “I once did an interview with him and I took all my notes in green - which is pretty standard for me, I rarely write in blue/black.
“Anyway, I turned off my dictaphone and he just looked at me straight faced and said ‘Hitler wrote in green’.”
ruby.hinchliffe@ft.com
