New research has shown that robo-advisers suffer a lack of trust when compared to their human counterparts with 89% of investors saying they would avoid them.

According to statistics, released by London-based IW Capital, just 11% of 2,004 people surveyed would use robo-advisers.

Fast-moving political and economic developments were cited as a reason for human interaction being viewed as a necessity.

The findings were revealed in the firm’s ‘Why Humans Matter’ report, which also showed 56% of investors needed human interaction to “feel safe” about an investment of any sort.

Just over half (53%) of respondents thought financial advice from a human was “invaluable, as confidence in financial decisions are relationship-based just as much as they are figures-backed.”

The survey revealed tech-savvy millennials were also sceptical about robo-advice, with 72% saying they needed human input in making investment decisions.

A spokesman said: “With Brexit underpinning political uncertainty and contributing to a fluctuating economy increasingly responsive asset management is required.

“Almost half of investors say that the Brexit-induced economic unpredictability means they now want to speak to a human adviser about their wealth management decisions.

“Having this personal relationship enables investors to discuss their portfolio, revise their investment strategy and assess their risk appetite as the markets react to Britain’s unfolding Brexit agenda.”