The company polled 700 intermediaries and discovered that one-third see 20 per cent of their business currently going through multi-manager platforms.
The research also reveals that most IFAs are using multi-manager because it allows for portfolios to be continuously monitored and saves them time.
Winterthur believes that IFAs need to take a stark look at their client proposition and decide how they are choosing their funds.
The life and investment company insists that IFAs need to look at what the clients are expecting from them in terms of investment advice. It is concerned that many IFAs seem to be unable to show a demonstrable process behind the investment advice that they are giving.
The research shows that 9 per cent of IFAs like multi-manager because it offers diversified portfolios.
The overwhelming verdict came on investment, asset allocation and fund selection choices, with almost half of IFAs polled saying one of these choices was the reason they had selected multi-manager.
The UK multi-manager market is currently valued at £20bn, with the sector having grown by more than 50 per cent in the last year.
Winterthur Life investment development manager Bernard Henshall says: “Until now, the onus has been on product providers to explain why fund of funds might be an appropriate recommendation but I feel it is time that IFAs were asking, why wouldn’t you recommend fund of funds?”