To a small saucepan, add the seafood or chicken stock and white wine; bring to a very slow simmer; maintain the stock at the very slow simmer temperature.
While the stock heats, in a medium sized saucepan, cook the bacon until crisp; remove from the heat and set aside; reserve a couple of tablespoons of bacon for garnish.
Pour off most of the bacon fat, set the heat to medium-low; add the 4 tbsp. olive oil to the pan.
Add the onions, fennel and garlic.
Slowly sauté until the onions soften but do not brown; season lightly with a little salt and pepper.
Add the rice; sauté together for 3 to 5 minutes to completely coat the rice.
Add one cup of the stock/wine mixture; stir to combine.
Adjust the heat so that the risotto very slowly simmers; continue to stir the risotto constantly as it begins to thicken.
After about 5 minutes, when the risotto begins to thicken, add another cup of the stock/wine mixture; repeat this process about 4 times.
Add the bacon when about half of the stock has been used.
Taste the risotto to see if the rice is fully cooked and to check if the risotto needs more seasoning.
Add a little more stock and continue to stir if the rice is still a little hard.
Add the grated Parmesan cheese and stir until smooth.
Add the butter to finish the risotto.
