The group was formed from established businesses, Age Partnership, Pure Retirement and Advise Wise.
Its operations will cover customer advice, lifetime mortgage lending, adviser technology and support, with an aim to deliver better experiences and outcomes for customers and advisers.
Each business within the Sovereign Life Group will continue to operate with its own leadership team, governance and regulatory responsibilities, with regulated firms each retaining their own boards, senior management accountability and responsibility for customer outcomes.
The group said its launch came at an important time for the market, with the changing market conditions and the regulator reinforcing the need to deliver good outcomes and evidenced advice journeys.
Jonathan Thirkill will serve as group CEO, and Andrew Thirkill will take on the role of founder and group chair.
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Jonathan Thirkill (pictured), group CEO of Sovereign Life Group, said: “Sovereign Life Group brings together businesses with complementary strengths.
“By coordinating investment and expertise across the group, while preserving clear governance and accountability within each regulated entity, we believe we can support better customer outcomes, respond to market change with greater resilience and agility, and help the later life lending market continue to evolve responsibly.”
Andrew Thirkill, founder and group chair of Sovereign Life Group, said: “When Age Partnership was founded more than 20 years ago, I saw an opportunity to build greater awareness of equity release and the many benefits and protection it can provide for customers in later life.
“The market has improved significantly since then, but the need for clear information, trusted advice and good customer outcomes remains as important as ever. Sovereign Life Group is a natural next step, bringing together specialist businesses with the capability and expertise to support customers, advisers and partners across the later life market.”
