Independent lawyer or law firm?

Define "independent" and "law firm." There are very experienced, and expensive, independent attorneys, and ramshackle "law firms" with little experience who may yet take your case on the cheap. There is no fee reduction to be expected; no independent attorney will be discounting fees simply because he or she is a solo practitioner.

The general advantage of engaging a law firm is that you will have access to the firm's resources: multiple attorneys and support staff, of course for whom you will be paying. An "independent" attorney may not have some of those resources immediately available but, if nonetheless acting competently, will be able to acquire them if necessary. Furthermore, the nature of services being provided (e.g., transactional services) can obviate law firm overhead entirely for which you will be at least indirectly paying.