Enthusiasm about robo-advisors is not high, even among tech-savvy millennials, according to Northwestern Mutual’s 2016 Planning & Progress Study.

Forty-seven percent of the 2,464 people surveyed say they have no interest in receiving only robo advice, while 43 percent say they are somewhat interested and only 7 percent expressed a high degree of interest. Even among millennials, only 20 percent expressed a high degree of interest in receiving financial advice only from technology sources.

When asked how they would prefer to receive financial advice, 54 percent say the ideal solution combines a human relationship with technology, while 33 percent want a strictly human relationship.

“The data reflects what we're hearing from our clients,” says Tim Schaefer, executive vice president, client and digital experience at Northwestern Mutual, a financial firm based in Milwaukee. “As people's financial and personal lives become busier and more complex, they want expert guidance tailored to their needs and access anywhere at any time."

However, the value of human advice is not easily replaced by just technology, says Northwestern Mutual.

Those who have no interest in receiving only robo advice cite the fact that humans can answer their questions and discuss options, that they do not trust robo advisors and that they value the expertise of a human advisor.

“It's encouraging to see that most Americans recognize that the experience and knowledge of a human advisor is at the heart of sound financial planning,” notes Schaefer.