May 2003, Mr. Schwab stepped down, and gave Pottruck sole control as CEO. On July 24, 2004, the company's board fired Pottruck, replacing him with its founder and namesake. News of Pottruck's removal came as the firm had announced that overall profit had dropped 10%, to $113 million, for the second quarter, driven largely by a 26% decline in revenue from customer stock trading. After coming back into control, Mr. Schwab conceded that the company had "lost touch with our heritage", and quickly refocused the business on providing financial advice to individual investors. He also rolled back Pottruck's fee hikes. The company rebounded, and earnings began to turn around in 2005, as did the stock. The share price was up as high as 151% since Pottruck's removal, ten times since the return of Charles Schwab. The company's net transfer assets, or assets that come from other firms, quadrupled from 2004 to 2008. Schwab's YieldPlus fund drew controversy during the 2007 financial crisis because of its -31.7% return. Investors in the Schwab YieldPlus Fund, including Charles Schwab himself, lost $1.1 billion. Schwab closed the YieldPlus funds in 2011. In April 2007, the company acquired The 401(k) Company. On July 22, 2008, Walter W. Bettinger, the previous chief operating officer, was named chief executive, succeeding the company's namesake. Charles R. Schwab remained executive chairman of the company and said in a statement that he would "continue to serve as a very active chairman". In 2011, the company acquired OptionsXpress. The company also acquired Compliance11, Inc., a provider of compliance software. In 2012, it acquired ThomasPartners, an asset management firm. On July 1, 2020, the company acquired Wasmer, Schroeder & Company, an independent investment manager of fixed income in separately managed accounts with $10.7 billion in assets under management. On May 26, 2020, the company acquired USAA's investment management accounts for $1.8 billion in cash. In June 2020, the company began allowing investors to purchase fractional shares. On October 6, 2020, the company acquired TD Ameritrade. Effective on January 1, 2021, the company moved its headquarters from San Francisco, California to Westlake, Texas. Senior leadership Chairman: Charles R. Schwab (since 1971) Chief Executive: Walter W. Bettinger II (since 2008) List of former chief executives Charles R. Schwab (1971–1998) Charles R. Schwab and David S. Pottruck (1998–2003); co-CEO's David S. Pottruck (2003–2004) Charles R. Schwab (2004–2008); second term Marketing In 2004, Charles Schwab chose