External vs RIA advisor

I have two opportunities.

1st year external wholesaler for a top 30 fund family (region unknown but most likely in the independent channel). The other is as an advisor with a 1.4 billion RIA, they did 88 million in new AUM last year with 4 advisors looking to expand for capacity. Would be given partial book to guarantee 100k base and then go raise own assets. Most new AUM is from referrals and leads and they are struggling to keep up with them. I don't know bps payout for comp yet though. Also, potential equity in firm down the road.

Higher initial income obviously as an external but my concern is with long term trends in industry with continued margin pressure and and growth of passive products. Obvious risks near term going to an advisor roll but mitigated somewhat by uniqueness of firms situation. Oh btw the RIA is a passive only shop.

Thoughts????