I have used both vests and the tackle belts (fanny packs).

Tackle belts are by far more comfortable if you are on a spot of river where you can just dump everything on the bank. These are not very suitable to standing in the middle of the river and tying up. Hard to access stuff.

Vests are less comfortable to wear but it is easier to access equipment for retying while standing in the river.

Tip for bank fisherman: Have the lead you are going to use readily available in your vest. Put all your extra lead in the back pocket of the vest, this will prevent your vest from putting so much pressure on your neck. That is usually what makes vests uncomfortable for me. Or if you are carrying a bottle of water that also helps to counter balance the vest if you store it in the back pocket. Just don't carry a Snapple bottle back there, when they break it is sticky to clean up and that glass gets everywhere.