Divorce — and especially divorce after 50, known as “gray divorce” — brings a lot of changes. Both parties could be experiencing new and scary emotions. A divorce might bring changes to where you live, your annual income, and your retirement plans.

If you’ve been working with a financial advisor as a couple and now you’re facing divorce, you may want to consider switching advisors.

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Do you need a new financial advisor?

Not everyone needs a new financial advisor after divorce. But you may decide it’s time for a change for a variety of reasons.

“If your advisor has worked with both you and your spouse during the relationship, they often have a stronger relationship with one spouse,” said Nicole Romito, partner at wealth management company Private Vista. “[You have to ask yourself] how comfortable you would feel starting a relationship with this advisor now that you are divorced if you are not that spouse.”

Amy Ragland, financial writer and owner of Nobody Taught Me This, which talks money topics for women 35+, agreed. “There may be a loyalty conflict that can lead to questions about whose interests the advisor will prioritize going forward,” she said.

Even if you were the primary contact with your current advisor, Ragland said, “It’s totally understandable to want a fresh start.” She pointed out that you may want to switch to find an advisor who specializes in divorce-related financial planning or on single-income households.

If you decide to stay with your current advisor, Ragland said, “You still need to have a conversation with the advisor, because your goals and your situation have changed significantly.”

One important point? “Do NOT try to go it alone,” Romito said. “There are too many moving parts. There is no do-over in divorce. It potentially can be much more expensive to DIY your finances versus having an advisor who can help educate you so you can make informed decisions within the context of your overall financial plan.”

So, how do you find that person and what should you look for?

Start looking early

Romito recommended looking for a new advisor in the early stages of the divorce process, ideally before signing the marriage settlement agreement (MSA).

“It’s a lot easier to understand and feel confident about your settlement agreement if you know the impact of your decisions on your future,” she said.

“If your advisor has worked with both you and your spouse during the relationship, they often have a stronger relationship with one spouse. You have to ask yourself how comfortable you would feel starting a relationship with this advisor now that you are divorced if you are not that spouse.”

Tap into your network

When you’re looking for any kind of service provider, you probably ask family and friends for recommendations. Finding a financial advisor after divorce is no different.

“Ask your divorce attorney and therapist for recommendations,” Romito said. “They will know many advisors and be able to recommend one who will be a good fit for your financial situation, personality, communication style and geography. You can also ask friends who are divorced if they are happy with their advisor.”

Talk to multiple advisors

Just as you’d interview multiple home contractors before committing to renovations, interview advisors before choosing one. “Don’t be afraid to interview two or three before deciding who to work with. Most offer a free consultation,” Ragland said.

You can ask questions to find out the types of clients they work with, their investment philosophies, and the costs involved.

“An advisor who serves clients with a net worth of $2.0 MM is going to have a different knowledge base and experience than one that serves clients with a net worth of $20MM,” Romito pointed out.

Finding the right advisor also means trusting your gut instincts, Ragland said. “I think the most important thing is personality fit. Does this advisor seem like someone who will answer questions directly and without judgment? Do they include you as part of the decision-making process instead of just telling you what to do?”

“Find an advisor who communicates in a way that makes you feel understood and empowered,” Romito agreed.

Ask about their credentials

You’ll also want to ask about their credentials and qualifications. A Certified Financial Planner can provide comprehensive financial planning, which is crucial for divorcees who are 50+.

“An advisor can help you put together all the pieces of your financial puzzle in a way that best supports your goals and can help you understand your path to financial independence,” Romito said.

Get help in all areas of finances

Your CFP or advisory team should be well-versed in more than just investments, including tax ramifications, estate planning, and insurance.

“At this age, you are closer to the end of your savings or accumulation phase, so working with an advisor who has experience of turning a client’s pot of money into a tax efficient income stream moves up in priority,” Romito said.

Ragland mentioned it might be worth building a team of financial professionals, including not just an advisor, but an accountant and maybe an insurance professional. “

Your divorce attorney can work with your team to make sure everything is squared away correctly,” she said.

Look for an advisor specializing in divorce

Because of the intricacies involved in a divorce, it’s best to find an advisor who works with clients in your situation. There is a lot of work to do in order to implement your MSA,” Romito said. “Having an advisor who is familiar with reading these documents and the tax laws at the Federal and State level will help ensure you maintain all the assets and support which you are entitled.”