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A class decides two things: which stats grow when a hero ranks up, and which modifier pools Rank A and Rank S draw from. Vanguards pile on Max HP, Mages gain 25 Magic a rank, Duelists 20 Attack Speed. A dual-class hero gets the pools of both classes, which is why a Rank B specialization that adds a class matters so much.
Every hero belongs to one of six guilds, each with a tagline and a roster of four or five. No guild bonus exists in the 0.5.13 data, so a guild tells you who a hero runs with in the story and nothing more.