Has anyone used ARBITRATION during divorce/financial settlement?

[HappyDay5]

Hi All, my solicitor has forwarded the latest letter from my ex's solicitor and they're asking me to consider arbitration if I don't agree with his proposal. My solicitor knows very little about this process as it's fairly new. She's told me there are very few arbitrators in the UK (most are retired judges and from my quick Google search seem to be fairly elderly white males). This has been suggested as an option to save on Court fees but no one can tell me how much this is likely to be (if I still pay for my solicitor or can I use a barrister during the process etc). It doesn't seem very tried and tested and I feel fairly reluctant given that his solicitor is one of the arbitrators from the group.

Does anyone have any experience of this during a divorce? Many thanks