Establishes a state university of New York pilot program to encourage individuals in college to enter the financial planning industry

2025 Regular Session Introduced by Lea Webb

Bill S 6850 establishes a SUNY pilot program to boost financial planning careers, enhancing student skills and increasing the number of qualified professionals in the field.

REFERRED TO HIGHER EDUCATION

Overview

Bill S 6850 aims to establish a pilot program within the State University of New York (SUNY) system to encourage college students to pursue careers in the financial planning industry. The initiative seeks to address the growing demand for qualified financial planners and to enhance the financial literacy of future professionals.

Purpose and Intent

The primary goal of S 6850 is to create pathways for college students to enter the financial planning field. By fostering interest and providing resources, the bill intends to:
- Increase the number of qualified financial planners.
- Promote financial literacy among students.
- Support the development of a skilled workforce in the financial services sector.

Key Provisions

Pilot Program Establishment: The bill mandates the creation of a pilot program within the SUNY system focused on financial planning education.

Curriculum Development: The program will include the development of specialized courses and training modules aimed at equipping students with essential skills in financial planning.

Internship Opportunities: The bill encourages partnerships with financial planning firms to provide students with internship opportunities, enhancing practical experience in the field.

Funding and Resources: While specific funding details are not outlined in the bill, it is expected that the program will seek financial support from state resources and potential private partnerships.

Affected Parties

Students: College students enrolled in SUNY institutions will directly benefit from the program through enhanced educational opportunities and career pathways.

Financial Planning Industry: The bill aims to support the financial planning sector by increasing the number of qualified professionals entering the workforce.

Educational Institutions: SUNY campuses will be involved in implementing the program, which may require adjustments to existing curricula and resources.

Procedural Aspects

Introduced Date: The bill was introduced on March 25, 2025.

Current Status: As of the introduction date, the bill has been referred to the Higher Education Committee for further consideration.

Related Legislation: This bill is related to prior-session bills S 8756 and S 2361, as well as companion bill A 991, which may provide additional context or support for the initiative.

Conclusion

Bill S 6850 represents a strategic effort to bolster the financial planning workforce by engaging college students through targeted education and practical experience. By establishing a pilot program within the SUNY system, the bill seeks to address both the demand for financial planners and the need for improved financial literacy among future professionals.

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