I had a similar thought when reading the article. As an example individual or smaller investors simply cannot create lower risk options like an index fund by t

I had a similar thought when reading the article. As an example individual or smaller investors simply cannot create lower risk options like an index fund by themselves. We don't have the ability to index specific markets and apply a personal weighting. The broad options are: low risk index funds from a broker, medium risk managed funds or high risk individual investments. Most individuals cannot tolerate the risks so have no option but to choose from a list of index funds.