Should I create a new entity firm or share stocks from my current firm?

Hello IH,

I am bringing an advisor on board. He has his own firm. What is your opinion on how to onboard him?

1. I give me x% of stocks from my company and onboard him directly as an advisor.
2. We create a new parent entity or a company and in that, we both become partners with our respective firms.

Not sure, what are the pros and cons of this approach.