diff --git a/validator/node/node.go b/validator/node/node.go
index 7ee3570ff..53b3637ab 100644
--- a/validator/node/node.go
+++ b/validator/node/node.go
@@ -79,11 +79,8 @@ func NewValidatorClient(cliCtx *cli.Context) (*ValidatorClient, error) {
 
 	cmd.ConfigureValidator(cliCtx)
 	featureconfig.ConfigureValidator(cliCtx)
-	keyManagerV1, err := selectV1Keymanager(cliCtx)
-	if err != nil {
-		return nil, err
-	}
 
+	var keyManagerV1 v1.KeyManager
 	var keyManagerV2 v2.IKeymanager
 	if featureconfig.Get().EnableAccountsV2 {
 		walletDir := cliCtx.String(flags.WalletDirFlag.Name)
@@ -105,6 +102,11 @@ func NewValidatorClient(cliCtx *cli.Context) (*ValidatorClient, error) {
 		if err != nil {
 			log.Fatalf("Could not read existing keymanager for wallet: %v", err)
 		}
+	} else {
+		keyManagerV1, err = selectV1Keymanager(cliCtx)
+		if err != nil {
+			return nil, err
+		}
 	}
 
 	pubKeys, err := ExtractPublicKeysFromKeymanager(cliCtx, keyManagerV1, keyManagerV2)