Generally you're going to bind your View to a single type of View Model. That's not to say that your type couldn't be an interface, or a base class from which both of your views inherit.
I tend to only use an interface or base/derived class situation when I have a single view model type that is going to span several different views. For example if I have two different types of forms that display widget information, I would create a single base Widget ViewModel class.
In your case, it sounds you should either a.) create two views for your simple and advanced views or b.) simply use a single ViewModel class.