Ronel, I tried pasting your example into my own profile, and it seems to work without causing any problem. The asterisk displays as an asterisk, not a bullet. The software doesn't disallow it, and I doubt if policy addresses it anywhere.
So it looks as if you could use it if you prefer, but I'm not sure why anyone would prefer it. If you prefer that look, I think you'll need to plug in a real bullet, not an asterisk.