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Celebrities often are endorsing a variety of products and services—across television ads, social media, or print—on everything from clothing and diet plans to perfumes.

It catches our attention. We always wonder: Did they use the product? Do they like the product? How much were they paid to endorse it?

In any case: What does this have to do with the Securities and Exchange Commission?

Sometimes, celebrities endorse investment opportunities, like crypto tokens or special purpose acquisition companies. Celebrity endorsements, though, don’t mean that an investment product is right for you, or even, frankly, if it’s legitimate.

Even if a celebrity endorsement is genuine, each investment has its own risks and opportunities and may not fit your investment needs.

Furthermore, a celebrity or influencer’s incentives aren’t necessarily aligned with yours. We might enjoy watching a celebrity playing on a basketball court, starring in a reality TV show or a movie, or performing to a large crowd at a stadium show. We shouldn’t confuse those skills, though, with the very different skills needed to offer appropriate investment advice.

So, before investing, please do your research. Consider the investment’s potential risks and benefits in light of your own financial goals. Search a company’s finances, organization, and business prospects through the SEC’s database called EDGAR.

When it comes to crypto, remember: Many of these are highly speculative assets. You may be wondering if it is right for you or even if it might be a scam.

If you have questions about investing, check out our resources at Investor.gov.