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If you wants to establish your personal brand and convey trust you need to have a good website serving you as portfolio, and in order to help you with prospecting you need to have a well knitted LinkedIn profile. So definitely both are needed.
(Ex-full time freelancer)
Website, sometimes helps potential new clients get a sense of who I am and how I work
When I was freelancing, I made sure to have an updated website.
Coach
Both