How should one respond to unsolicited investment advice from wealthy acquaintances?

Responding politely and professionally while maintaining appropriate boundaries is crucial. Acknowledge their advice respectfully, thanking them for their input and demonstrating that you value their perspective. Avoid dismissing their advice outright, as this can damage the relationship. Instead, explain that you appreciate their suggestion and will consider it in the context of your overall investment strategy. It is important to subtly reinforce that you rely on the expertise of your own financial advisors to make investment decisions. You can say something like, "That's an interesting idea. I'll be sure to discuss it with my financial advisor to see how it fits into my overall plan." This avoids directly rejecting their advice while also maintaining your independence and reliance on professional guidance. It's also important to refrain from discussing the specifics of your financial situation, maintaining confidentiality and preventing further unsolicited advice.