Some DMs say that joining a faction does not necessarily give you any freebies, but this may be somewhat wrong. Of course, a faction should not be something for the goal-less character to drift towards, but there are certain things to keep in mind that a faction does give you:
A faction will give you a certain set of “base-goals” which you, most often, will share with your fellow faction members; it is a platform to inspire other goals, or to make characters try to figure out how to achieve them. These goals may often clash with the goals of other factions, making it more interesting and competitive.
E.g, two factions, (or members of the same faction) may both be searching for the same item, but for entirely different reasons.
You often get a certain reputation from a faction, due to its history or the actions of current/past faction members and this can be a reputation can be good or bad, but it might be something to try to change or uphold. With these reputations, characters gain a certain “status” within a city, which gives the character some “footing” in branching out into the player base. It gives the factions the chance to imprint their “goals” on the player base, to gain resources, be it information or his ability to “kick ass”, from Adventure Andy, and to gain potential allies or enemies. Factions are in a very strong position to influence the story of the player-base and this opportunity should be realized.
E.g it may be more inspiring to follow a group of Seekers on exploration than just Adventure Anton.
In addition, through the ties of the faction, or faction members, you might find the other part of the puzzle your character is looking for. Factions often have at their disposal information to use as advantage or payment to influence Adventure Andrew.
Factions will often give you “faction-buddies” or “faction enemies”. Establishing ties and reputation within the faction, or with other faction, will often help your character evolve and your character’s story may not progress as you had envisioned once faced with the challenges sticking by a faction pose.