COMPUTER-GENERATED investment advice has gotten a lot of attention in the last few years. And for good reason.

Many web-based services have given investors with smaller portfolios access to advice that they wouldn’t otherwise get. And because these services charge lower fees — no need to pay human advisers, after all — that can increase returns on investments that track indexes.

But what has not been clear is what benefit, if any, these so-called robo advisers, which help investors with asset allocation and charge a relatively modest fee for the service, bring to high-net-worth investors.

Suffice it to say there is little consensus. And that is probably fair: There are pluses and minuses among the three dominant ways to use technology in personal investing. Here’s a look at the three:

The Robo Way

Two of the biggest robo advisers are Betterment and Wealthfront.

They both started by courting people who wanted to invest but did not have enough money to meet the minimums of traditional advisers. They charged a fraction of typical advisory fees. In the case of Betterment, the fee is 0.15 percent for accounts larger than $100,000, and it is 0.25 percent at Wealthfront, compared with 1 percent or more for traditional advisers.