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Going through a divorce can be one of the most emotional and challenging life experiences for many people. And when it comes to your finances, your life may truly feel turned upside down.
Fortunately, you’ll find a growing number of financial advisors who specialize in helping people navigate the complexities during the process of getting divorced, as well as specialists with the experience and knowledge to help you get your financial plans on track once the process is completed and you’re on your own.
If you’re currently going through the divorce process (and especially if your financial circumstances are fairly complex), you may want to consider hiring a financial advisor who holds the Certified Divorce Financial Analyst (CDFA) designation.
What is a Certified Divorce Financial Analyst (CDFA)?
Certified Divorce Financial Analysts help people going through a divorce (and their lawyers) understand how their financial decisions will impact their future finances. This credential is issued and overseen by the Institute for Divorce Financial Analysts (IDFA), which has been around since 1993 and offers specialized training to accounting, financial, and legal professionals in pre-divorce financial planning.
A CDFA has specialized financial knowledge that may help you if you’re going through the process of divorce. They may solely work with you or act as a mediator between you and your spouse. You can trust them to help you divide assets and ensure you understand how they’ll affect your financial situation down the road.
For more information and to help decide if a Certified Divorce Financial Analyst may be right for you, you may find this article useful:
Once you’re through the divorce process, it’s time to look forward to the next chapter of your life. And a financial advisor who specializes in serving divorced women may be an ideal guide to help you emerge feeling confident and optimistic for your future.
If you’re thinking about working with a financial advisor, how can you be sure you’re hiring an advisor who truly understands your individual needs as a divorced woman?
Fortunately, you have more options today than ever before to find a specialist financial advisor with the knowledge and experience ideal for your unique circumstances. And beyond financial advisors in your neighborhood, you may find the best financial advisor for you lives several states away and is easy to work with virtually, often via Zoom meetings online, for example.
So is a financial advisor who specializes in serving divorced women right for you?
Let’s learn more by getting answers from financial advisors featured on Wealthtender who offer their perspective on the potential benefits of working with a specialist.
👩💼 Get to Know Financial Advisors Who Specialize in Serving Divorced Women
This page is organized into sections to help you quickly find the information you need and get answers to your questions:
- Q&A with Financial Advisors Who Specialize in Serving Divorced Women
- Get Answers to Your Questions About Financial Planning for Divorced Women
- Browse Related Articles
– Financial Advisors Who Specialize in Serving Divorced Women –
Three Questions with Stephanie McCullough:
We asked Philadelphia-based financial advisor Stephanie McCullough to answer three questions why she believes divorced women may benefit working with a financial advisor who specializes in this area.
Q: What are the primary benefits of hiring a financial advisor who specializes in serving divorced women?
Hiring a specialist means you have less explaining to do. You know the advisor understands some key aspects of your situation right off the bat – that you worry about building (or re-building) financial security for yourself now that you have no one else to fall back on; that you are the sole decision-maker on all the crucial decisions you face; and that you really have no one to talk to about your money.
For example, we work with our divorced clients to help you:
- Gain a better understanding of your financial settlement
- Make decisions about your home and employment situations
- Envision multiple scenarios to help you cope with future uncertainty
- Design a lifestyle that fits your means, so you understand where you can and should spend your money
- Build a financial decision-making process, to help you filter out the noise and focus on what’s best for you
- Get decision support and accountability going forward so you get things done, avoid mistakes, and feel confident in your choices
Together we implement, monitor and adjust as life happens. And we are a reliable resource for you whenever important financial decisions arise.
Q: Should I wait until my divorce is finalized before hiring a financial advisor?
Stephanie: It depends on what type of help you’re looking for. There are advisors who specialize in walking with clients through the divorce process. They have a designation called a CDFA (Certified Divorce Financial Analyst) which comes with specialized knowledge and tools for navigating the legal stuff effectively. (Quite honestly, they’re usually better equipped to handle money questions than your lawyer!)
However, once the divorce is done and the settlement terms are spelled out, you’re faced with a different set of questions, such as: how will this affect your lifestyle? If you’re getting a lump sum, how do you use it wisely? What happens when alimony and/or child support payments end (whether you are paying them or receiving them)? Will you have enough to support yourself and your kids (if you have them)? How can you get past the worry so you can start envisioning what kind of life you want to live, now that YOU get to decide?
This is what we specialize in – moving forward after the divorce is final, and making a plan to make the most of what you’ll have to work with. Clarity brings calm.
Whenever you’re looking to hire a professional, the first step is to get super clear on what you’re hoping that person can do for you, then go look for experts in that.
Q: Are there particular circumstances related to divorce which make it especially valuable to hire a specialist advisor?
Stephanie: Divorce is a significant, sometimes traumatic, life event. But it’s also a significant financial event! Especially if you were the “dependent” spouse as it’s termed, you’re stepping into a situation where you suddenly have to make the financial decisions – all of them, on your own.
Having worked with so many women post-divorce, we understand that things are going to be emotional. How could they not be?! We’re talking about your life, your security, your self-worth, and all you hold dear. You’re facing real changes – perhaps scaling back your lifestyle, possibly returning to paid work or earning more, potentially losing your health insurance and other benefits from your ex’s job. And the vision of your future has changed dramatically.
We make room and create a safe space to have those intimate conversations. We firmly believe that we can’t make money decisions until we’re all super clear on what that money needs to do for you! Money is just a tool – what are its jobs in your life? Clarity brings calm and makes the choices much simpler. And you don’t have to do it alone.
Get to Know Stephanie McCullough:
Areas of Focus
- Financial Life Planning
- Investment Management
- Living in Retirement
Are you a financial advisor who specializes in serving divorced women?
✅ Get added as a specialist in this area in our next monthly update (Subject to availability and qualification criteria.)
✅ Sign up today and join financial advisors attracting their ideal clients on Wealthtender
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🙋♀️ Have Questions About Financial Planning for Divorced Women?
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About the Author
Founder and CEO, Wealthtender
Brian and his wife live in Texas, enjoying the diversity of Houston and the vibrancy of Austin.
With over 25 years in the financial services industry, Brian is applying his experience and passion at Wealthtender to help more people enjoy life with less money stress.
Disclaimer: The information in this article is not intended to encourage any lifestyle changes without careful consideration and consultation with a qualified professional. This article is for reference purposes only, is generic in nature, is not intended as individual advice and is not financial or legal advice.