The quarterly, which focuses on luxury living and wealth management, will be sent for free to select FT readers as part of their subscriptions to the newspaper and will also be placed at select newsstands. Readers will be targeted based on wealth, and readers are expected to have liquid assets of $2 million of more. Circulation for FT Wealth will be 100,000 for the first issue.
“We already have them reading the FT, which is why this is logical launch for us,” said Andrew Sollinger, managing director of US commercial operations for the FT. “It is another way to serve existing readers and to extend our brand and focus for very high level readers.”
“There’s a huge push to focus on wealth management in the wake of the financial calamity of the past year, and the wealthy, specifically the ultra-wealthy, are more than ever examining their banking relationships,” he added. “I think it’s the perfect time to launch here now, regardless of conditions of the print market. The reception we’ve had overseas convinced us that this magazine is the exception.”
FT Wealth already has UK, Europe and Asia editions, which share much of their content. The US edition will also share content, which Sollinger said will have a “global focus.”
Video, audio and other content for FT Wealth can also be found online, at Ft.com/wealth.
Sollinger said that the FT would be measuring the success of Wealth in the US through reader surveys, studies and market research.