Pros
A good place to work if you have a fee-based book of business. Payout starts at 90% if you have your Series 24 and goes up from there. LPL has a vast variety of products to offer your clients and a fee-based platform to manage the accounts your own way. LPL has also started some centrally managed accounts where the Research Dept picks the fund allocation and manages the model for you. This costs you roughly an extra 0.30%, but saves you a lot of time and allows you to prospect for more business.
Kontras
As a 1099 independent contractor, there are no additional benefits. You are on your own for health insurance and retirement savings and office leases. However, if your book generates enough recurring revenue, when you get a 90%+ payout, you can afford to pay for some of these things yourself.