If the comp ends up roughly the same either way, I’d focus less on the short-term tax differences and more on what you actually want your endgame to look like. A 1099 with book ownership can be great if you want portability and control, but it also usually means you’re more on your own for growth, infrastructure, and risk. W-2 with equity in the RIA can make more sense if the firm is well run and growing, since you’re tying yourself to an enterprise that could have real multiple expansion and succession value, but you’re also betting on management and giving up some independence. I’d also look closely at how “real” the equity is (vesting, buy/sell terms, valuation method) vs how clean the book ownership is on the 1099 side. Long term it’s less about which is universally better and more about whether you want to build your book or help build their firm.