Why are mutual funds and exchange-traded funds called financial intermediaries? Why does it make sense for an

Question:

Why are and exchange-traded funds called financial intermediaries? Why does it make sense for an individual to invest her savings in a mutual fund or ETF rather than directly in individual and bonds?
Stocks
Stocks or shares are generally equity instruments that provide the largest source of raising funds in any public or private listed company's. The instruments are issued on a stock exchange from where a large number of general public who are willing... Mutual Funds
Mutual funds are like a pool of funds gathered by different small investors that have simalar investment perspective about returns on their investments. These funds are managed by professional investment managers who act smartly on behalf of the...