A Simple Case of Follow the Money ; MAGAZINES ++ Spear's Wealth Management Survey - an Invitation-Only Subscription Magazine for the Super-Rich - Has Confounded the Critics and a Cut-Throat Market Alike. after Surviving 'A Very Hairy Financial Roller-Coaster Ride', Publisher William Cash Reveals the Secrets of Its Success

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Spear's what? It won't work," replied of one of Conde Nast's highest profile editors after he asked me what I published. It was a Saturday early last June and the champagne was flowing. I was lunching in a box at Royal Ascot as a guest of Bentley who had invited a small group of VIP hacks to enjoy the racing - chauffeured up in Bentley Continental GT Coupes, of course.

I went on to explain to this glossy editor that Spear's Wealth Management Survey, which had only been launched two months before in April 2006, was different from any other magazine targeting the growing army of super-affluent UK readers in that it was-n't available on news-stands. Our distribution was to …