Careers England, which speaks on behalf of careers advisers, said there must be an urgent debate on the future of careers education and guidance in England.
A policy position paper published by the organisation states that better value can be achieved from the resources already in the system.
It calls on the government to launch a cross-departmental review of all the activities and funding that impact on career education to ensure a more cost-effective, fair system.
And it proposes a national all-age careers service that is appropriately resourced and backed by a national strategy.
"Existing funds need to be rationalised, managed in smarter ways, more creatively, and with more forensic targeting to secure the desired outcomes," the paper states.
"Government has a responsibility to ensure public funds are spent wisely, and that the funding streams, protocols and accountability are transparent.
"This is about a long-term investment, with real returns for the taxpayer."
Katherine Horler, chair of Careers England, said: “We want to kick-start an informed debate about how we move from where we are now, with patchy, fragmented guidance, to a coherent system that delivers easy, equitable access to high-quality careers help to all ages.
“We believe it is possible and desirable to better target the guidance resources that are already in the system to provide better value for money.
“These resources could provide more effective support behind the government’s educational, social and economic agendas, while opening up better access and opportunities for career development for everyone.”
She added: “Over the coming months, we will seek, with others, to move this debate forward to identify how best we can deliver a system that is truly fit for purpose.”
