Jason Li: Madison Partners Advisor Fired by Merrill Lynch

Lacey, Washington financial advisor Jason Li (CRD# 6314460) was recently fired by a former member firm in connection with alleged misconduct. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the former Merrill Lynch broker is currently registered as an investment advisor with Madison Partners.

Mr. Li’s BrokerCheck report discloses his termination from Merrill Lynch. Filed in February 2026, the disclosure states that he was fired in connection with allegations of “Conduct including solicitation of no opinion securities.”

While the disclosure does not specify the circumstances surrounding Mr. Li’s resignation, it may relate to any of several industry rules. FINRA Rule 2010, for instance, requires FINRA-associated persons to “observe high standards of commercial honor and just and equitable principles of trade.” Many types of misconduct may be found to constitute violations of FINRA Rule 2010, provided the alleged activities occur “in the conduct of [the member’s] business.” A similarly important standard is the SEC’s Regulation Best Interest, which requires representatives to “have a reasonable basis to believe that a recommended transaction or investment strategy” is appropriate for a customer’s investment profile, which includes their age, investment background, net worth, financial situation, risk tolerance, investment goals, and other concerns. The representatives must have a reasonable basis to believe a recommendation is suitable for at least some investors and that it is reasonable for the customer they’re making it to. An investment without principal protection, for instance, might be considered unsuitable for conservative investors with a low risk tolerance. Representatives who recommend unsuitable investments or strategies may be held liable in the event of losses.

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Jason Li holds 10 years of securities industry experience. Based in Lacey, Washington, he has been registered as an investment advisor with Madison Partners since March 2026. His past registrations include Merrill Lynch, Sovereign Global Advisors, and Primary Capital. His credentials include the passage of five securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; and the General Securities Representative Examination, or Series 7. He is licensed in Washington. (Information current as of March 22, 2026.)

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