Materazzi questioned Balotelli's loyalty to Inter and told the youngster the "door is always open" if he wants to leave.
"Advice is good if it is imparted in private," explained Balotelli's agent Mino Raiola.
"Public advice is just publicity. I don't want to cause controversy here, but these statements were not appreciated.
"I did not like to hear Marco saying those things to the media. You can debate on the content of the statements, but there is an unwritten rule in football: you wash your dirty laundry in the locker room.
"I have never seen a player with the experience of Materazzi giving such advice in a public forum."