Pros
-The company itself is solid and rewards its employees well during good years. -Allowance for customized approaches running an independent practice is great. -Great research tools.
Cons
-Unstable corporate support structure for independent teams. -Average at best technology. -A lot of red tape to conduct simple business. If you are working for a good, respectable advisor, it's a good gig outside of the three points above. If not, you are at the mercy of your direct report, who can and will expect you to work 60+ hours and make the job your life with little appriciation and lower pay than you would expect. Again, this depends on the advisor, but the company won't do anything to help the situation if the advisor is raking in the $$$.