Why do Canadians put so much of their retirement savings in mutual funds?

David Pett has just written a great article in the Financial Post questioning the value of holding mutual funds in your RRSP. I find Mr Pett totally on-point, largely because his comments  exactly correlate to my own blog post of Oct 2012 listing the  Top Ten reasons not to have Canadian Mutual Funds in your RRSP

Largely the issues remain:

• High management fees (MER)
• Poor management performance
• Weak stock market (since 2008)
• Lack of investment alternatives (poor bond and GIC performance)

Canadians deserve better. After taking a 700 hundred billion dollar haircut in 2008, their ever-nearing retirement lifestyles are in jeopardy due to a lethargic mutual fund management industry.

From the Financial Post:  Mutual funds still popular with Canadians, but why?