OP Uusimaa Survey: Over 70% of beneficiaries do not believe or know that they will inherit investments
Inherited wealth is expected to grow considerably in Finland in the coming years. In addition, more inheritances will include investments, such as fund units or shares. Despite this, most people in Finland do not believe that they will inherit investments and the subject is seldom discussed in advance within families.
In the coming years, Finland will undergo a redistribution of wealth due to inheritances. The large age groups born between 1946 and 1950 are the wealthiest in Finnish history, and their assets are being transferred to the next generation.
Mutual fund investments and stocks are increasingly being left to heirs, in addition to homes. Although real estate still tends to be the largest item, the share of investments has risen by several multiples in recent decades.
According to a survey commissioned by OP's Taloustutkimus, 74% of inheritors in Finland do not believe or are unaware that they will inherit shares or fund units. The survey classified respondents as inheritors if they indicated the belief that they would personally inherit assets.
"Many future inheritors of investments seem to be unaware of the nature of their inheritance in advance. For example, the amount of equity received as inheritances by OP customers has increased tenfold in the last 20 years. Many inheritances are also larger scale than before, and inheritances are expected to grow in the coming years. Although around 40% of people in Finland already invest in fund units or shares, inherited assets will give some inheritors their first ever investment opportunity," says Markus Malviniemi, Senior Vice President at OP Uusimaa.
As much as 50% of equity wealth is held by people who are over 65 years old. This age group includes people who have received inheritances, as well as long-term investors without inheritances.
"The data shows that, among Uusimaa residents, most equity is clearly held by the oldest age group. As inheritances often pass from older age groups to their descendants, this means that we have a large amount of investment assets being inherited by the younger generations. In addition, inherited money is increasingly important to recipients, since income and assets have not grown at the same pace for younger generations as they did for the boomers," says Markus.
There's never a wrong time to discuss inheritance
The survey also reveals that 40% of people in Finland have not openly discussed inheritances with their loved ones. In fact, the younger the age group, the less discussion has taken place, even though some young people receive inheritances. Markus Malviniemi is concerned about this result.
"In meetings, our customers often state that inheritance is not yet relevant. However, it's always relevant. Inheritance is still a taboo topic for many – a taboo that needs to be broken as the numbers of inheritances grow. Discussing inheritance in advance can prevent disputes and clarify and provide background for the choices made," says Malviniemi.
He points out that creating power of attorney and drawing up a last will and testament are also vital.
"By law, wills must be drafted in a specific form. A bank specialist can help you to ensure that a will meets all formal requirements under law and that its content and wording reflect the testator's actual intentions," says Markus.
Furthermore, power of attorney enables management of a person's affairs, even if the person is too ill to handle this independently.
"It's also important to keep prepared documents up to date. Changes in circumstances or family relationships often require changes to existing documents. Successful transfer of wealth between generations and building the financial skills of people in Finland are key ways of enhancing prosperity and supporting the national economy," explains Markus Malviniemi.
Take account of investment-related matters, such as the following, when considering inheritance:
- Plan your inheritance regardless of age and family situation. Inheritance often comes to mind only as a person ages or their health deteriorates. This can sometimes be too late, leaving a relatively narrow range of options for the planning of family wealth and inheritance. Discussing the matter with loved ones leads to more openness and can prevent inheritance disputes.
- Remember book-entry accounts in estate distribution. Inherited shares are not automatically transferred into the inheritor's name in estate distribution: this requires a book-entry account in which the shares are held. You can open a book-entry account at your bank.
- Forms of investment can be very different. Because stocks, mutual fund units, bonds, capital redemption contracts and unit-linked insurance are different, their differences should be recognised: in inheritance planning, in the event of a death, in estate distribution and in the taxation of investment income. Also consider whether an investment can be transferred from one bank to another when implementing estate distribution. The bank's specialists will help you with these matters.
OP Financial Group’s online survey of September 2025 was answered by 1,042 people in Finland, who were over the age of 18 at the time. The results are weighted to be representative of the population in general. Respondent numbers vary by question. The survey was conducted for OP Financial Group by Taloustutkimus and its margin of error is plus or minus 3.2 percentage points for the entire respondent group.