I think the most important aspect of our evolution over the past 20 years has been the patient acquisition and development of our investment talent and teams.
Each of the investment teams that has joined our firm has marked a key moment in our history—starting with Mark Yockey in 1995 all the way to the 2013 hire of Bryan Krug. We now have six investment teams that oversee a range of 14 high value-added investment strategies. Each of those teams has its own distinct investment process and has developed a team dedicated solely to the execution of its process. Those teams are the true assets of our firm.
A second key aspect of our evolution has probably been how we have evolved our client base and asset mix. We slowly evolved into the defined contribution marketplace—once the characteristics of that market aligned with our long-term goals. Similarly, as the broker-dealer marketplace evolved—creating centralized research and a more institutional orientation—we leveraged our distribution in this channel. Most recently, it was our decision to expand globally. The key has been evolving at a glacial speed and making sure that we move into areas—products or distribution channels—that match our long-term goals and fit with our core values.
In general, whether we are talking about investment talent or our client base or anything else, we have always moved slowly and thoughtfully. It has allowed us to communicate changes, set expectations and create a more transparent outcome for our clients and our associates. We believe that's created a lot of retention, a lot of predictability and, most importantly, stability in our business.