Described as a “true entrepreneur”, Barral launched @Sipp in 2001 and founded IFA business Barral Sheppard, which is now part of True Potential, and ProfitCounts, an accountancy firm.
He also held a number of non-executive positions across different sectors in Scotland.
Throughout his career, Barral was known for his "infectious enthusiasm" and his drive to create opportunities for others.
@Sipp managing director Eddie McGuire, said: “Our chairman and founder was loved and admired by so many people across @Sipp and we regarded him as family. It always has been, and still is, like a family-run business.
“There was never a dull moment working with Colin. He was great fun and a very dear friend.
“He put his staff at the heart of everything he did and was sure to make it his place to engage with them on a personal level. Colin was generous to a fault and always on hand to help anyone out of a difficult situation. He will be sorely missed.”
Barral had significant experience in the financial services sector, focusing on servicing a range of high-profile clients.
He was also a specialist in commercial property acquisition and development, including the structured finance of such projects, particularly within the framework of pension planning.