The Association of Investment Companies and pensions firm Broadstone have both recently suggested a similar idea using vouchers for retirement guidance.
But Mike Morrison, head of platform marketing at AJ Bell, does not believe this can work.
The AIC has put forward its plan to the Government which it said would be akin to the already well established system of childcare vouchers.
Mr Morrison told Financial Planner Online: "I cannot see giving a voucher for advice would work – advisers have different hourly costs - a voucher for £100 say would not get one hour of most advisers time.
"Is the quality of advice reflected in hourly cost?
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"I would hate to have a situation where the adviser was just going to give his recommendation and the money ran out."
He said if everyone gets the same value voucher they might buy differing levels of advice or more or less hours of advice and London is liable to be more expensive than other parts of the country.
He said: "How much would each person get and who would pay?
"The giving of advice can involve lots of issues – therefore time and cost – does this lead to focused advice or simplified advice?"
Ian Sayers, director general of the AIC, explained its proposal by saying: "The Government would allocate a credit to each individual approaching retirement which would allow them to 'buy' advice from anyone suitably qualified.
"Giving vouchers will stimulate competition in the advice market. IFAs and others would vie for business on the basis of price and quality."
Simon Nicol, pension director at Broadstone said for face to face guidance to work consumers will need to be convinced of its impartiality and worth. His firm believes vouchers could be a way to achieve this.
"It is clear that many may need persuading to take up the offer of guidance particularly if by being 'free' it appears to reduce its value," he said.