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Is Busey Capital Management a Fiduciary? What Its Own Form CRS Says (2026)

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Updated September 28, 2026. Quick answer: Yes, on every account. Busey Capital Management is registered with the SEC only as an investment adviser (it is not a broker-dealer), so the Investment Advisers Act of 1940 requires it to act as your fiduciary. Its own Form CRS states: “When we act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours.”

How it’s registered

From Form CRS, Customer Relationship Summary, Busey Capital Management (June 2020): “Busey Capital Management, Inc. is an investment adviser registered with the U.S. Securities and Exchange Commission.”

The standard of conduct, in its own words

“When we act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours.”

On commissions: “Financial Professionals’ compensation is earned through a base salary and a performance based bonus that is based on multiple factors, including strategy, team and firm performance compared to established benchmarks.”

Fiduciary status by capacity

CapacityRegistrationStandard you’re owedCan earn commissionsSource
As your investment adviserSEC-registered investment adviserFiduciary duty (Investment Advisers Act of 1940)No (asset-based advisory fee: up to $6,500 a year, 1.30% on a $500,000 account, the published maximum)Form CRS, Customer Relationship Summary, Busey Capital Management, June 2020

What this means for what you pay

Fiduciary status is one input, not the whole picture. Busey Capital Management discloses a published fee that runs up to $6,500 a year on a $500,000 account (the published maximum); see the full dollar breakdown from Busey Capital Management’s own fee disclosure before deciding whether the standard of conduct here changes your answer.

If the answer above changes your mind about staying, see what it costs to leave Busey Capital Management, or read the general mechanics of switching financial advisors.

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Sources

Methodology. This page was built September 28, 2026, quoting directly from Busey Capital Management’s own current Form CRS, with the source linked above; any distinction we could not independently confirm this session is named as an honest gap rather than presented as verified. Nothing here is personalized financial, tax, legal, or investment advice, and it is not a substitute for reading the firm’s own Form CRS. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.