I think this and the grandparent miss the point. The paragraph starts "it's too hard". Too much choice, lack of metrics, lack of clear comparisons can make things as hard as no choices. The availability of discount brokers doesn't solve the problem, as evidenced by the number of people making mistakes.

"Most people either pick individual stocks and bonds and expose themselves to high volatility, or pay very high fees to mutual fund managers and lose to the index anyway. Most people are also non-experts when it comes to portfolio rebalancing and tax optimization."

Education, clear UI, consistent metrics and prioritisation are all potential issues. Do all these services exist outside of your country? What if I move countries? How do I explain it to my mother? What if I only have $1000 to invest?