The American Institute for Economic Research is a non-profit organization (501c3) that educates Americans on the value of personal freedom, free enterprise, property rights, limited government and sound money. The institute owns various assets and one is a fully owned subsidiary, American Investment Services, Inc. (AIS). AIS is an S.E.C. Registered Investment Adviser founded in 1978 and is governed by a Board of Directors appointed by AIER. AIS provides low-cost independent Asset Management Services to individuals (including IRAs), estates, trusts, retirement plans and charitable organizations. Based on the institute's research, AIS developed a discretionary investment management service designed to replicate the returns of a domestic large cap value model portfolio, the "High Yield Dow" strategy. AIS also uses funds provided by Dimensional Fund Advisors, Vanguard, and other low-cost providers. AIS publishes a monthly newsletter, the Investment Guide.