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Professional Background
Stephen Jeung is a Korean American financial advisor and the founder and CEO of Jeung Agency, an independent financial services firm based in Los Angeles, CA, serving clients in all 50 states.
He is a graduate of the University of California, Berkeley, and has more than 25 years of experience in insurance and financial services, including a tenure as a Wealth Manager at Merrill Lynch. In 2011, Stephen left Merrill Lynch to operate independently — a deliberate move so he could work for clients, not a firm.
Stephen partners with 70+ top-rated financial institutions to deliver life insurance, indexed universal life (IUL), 401(k) and 403(b) rollovers, fixed index annuities, retirement planning, estate planning, and wealth management.
He is bilingual in English and Korean and serves both English-speaking and Korean American clients across the United States.
Quick Facts
Title
Founder & CEO, Jeung Agency
Experience
25+ years in insurance and financial services
Service Area
All 50 U.S. states
Education
University of California, Berkeley Graduate.
Languages
English, Korean (한국어 상담 가능)
Heritage
Korean American
Independent Since
2011
Firm
Independent financial services firm based in Los Angeles, CA
Previous Role
Wealth Manager, Merrill Lynch
Carrier Partnerships
70+ top-rated financial institutions
From UC Berkeley to Merrill Lynch to Independent
Stephen earned his degree from the University of California, Berkeley, where he built the analytical foundation that still shapes how he approaches financial planning today — rigorous, evidence-based, and unwilling to take conventional wisdom at face value.
He began his career inside the wirehouse system as a Wealth Manager at Merrill Lynch — one of the most respected names on Wall Street. He learned the craft there, but he also learned its limits. Inside a wirehouse, advisors are bound by their firm's product shelf, sales priorities, and pricing decisions. Clients are often steered toward what the firm wants to sell that quarter, not necessarily what is best for the client's situation.
In 2011, Stephen made the decision to leave Merrill Lynch and build something different. He founded Jeung Agency as a fully independent firm with one rule: every recommendation has to be in the client's best interest, and every product on the table has to earn its place by being the right tool for that specific client — not because a parent company says so.
That independence is the reason Stephen can shop the entire market across 70+ top-rated carriers and financial institutions to design a plan for each client, rather than fitting clients into pre-packaged solutions.
How Stephen Works With Clients
Stephen takes a comprehensive, client-centric approach to financial planning. Rather than treating insurance, investments, retirement, and estate planning as separate buckets, he builds a single integrated strategy where each component supports the others.
A client engagement typically covers:
→ Building retirement savings — through tax-efficient vehicles including Roth IRAs, 401(k)s, IUL, and fixed index annuities.
→ Protecting estates — coordinating life insurance, trusts, and beneficiary planning so wealth transfers cleanly to the next generation.
→ Creating generational wealth — leveraging the tax code (including IRS Code §7702 strategies) to compound wealth across generations.
→ Designing business retirement plans — customized 401(k), 403(b), SEP IRA, and executive benefit packages for business owners.
→ Asset protection and risk management — disability, long-term care, and business continuity planning.
The goal: a disciplined, durable plan that empowers clients to mitigate risk and maximize growth — without surprises.
Areas of Specialty
Indexed Universal Life Insurance (IUL)
Stephen is one of the most experienced IUL specialists serving the Los Angeles market. He helps clients structure properly-designed IUL policies for tax-free retirement income, college funding, and generational wealth transfer — and helps them avoid the common pitfalls of poorly-structured policies sold by less experienced agents.
Fixed Index Annuities (FIA)
Stephen helps clients use FIAs as the "guaranteed income" layer of a retirement plan — protected from market downturns, with the upside of indexed growth. He shops the entire annuity market to find the right contract for each client's income needs.
401(k) and 403(b) Rollovers
Stephen guides California professionals — including teachers, state employees, and corporate executives — through the rollover process with a focus on tax efficiency, fee reduction, and aligning the new account with each client's actual retirement timeline.
Estate Planning and Wealth Management
In coordination with attorneys and CPAs, Stephen integrates life insurance and investment strategies into estate plans that minimize taxes, simplify probate, and preserve wealth across generations.
Retirement Planning for State Employees and Teachers
Working with CalPERS and CalSTRS participants, Stephen specializes in pension maximization strategies, gap-filling life insurance, and supplemental retirement vehicles for educators and public servants.
Business Owner Solutions
For business clients, Stephen designs 401(k) and 403(b) plans, key person insurance, executive benefit programs, and succession plans tailored to the size and goals of the business.
A Korean American Advisor Serving the Korean American Community
Stephen is Korean American and bilingual in English and Korean. He is one of the very few independent financial advisors in the Los Angeles area who can serve Korean American clients without being tied to a captive insurance company or wirehouse — and one of the only Korean American advisors in LA who is both UC Berkeley educated and ex-Merrill Lynch.
That combination — Korean American heritage, Cal education, Wall Street training, and full independence — is rare. It means clients get cultural fluency, technical depth, and a fiduciary mindset in the same advisor.
He works with three distinct groups of Korean American clients:
→ First-generation Korean immigrants who prefer to discuss their financial future in Korean.
→ Second-generation Korean Americans who are bilingual themselves but want a Korean-speaking advisor for their parents — and a single point of contact who understands both generations.
→ Korean American business owners in Los Angeles who need integrated business retirement and personal wealth strategies.
For Korean-language consultations: 한국어 상담 가능합니다. Email stephen@jeungagency.com or book a meeting to schedule a Korean-language conversation.
Beyond the Office
Stephen is a husband to Joanne and a father to his daughter . He lives in the Los Angeles area with his family. His Christian faith informs how he approaches both his work and his relationships with clients — with integrity, patience, and a long-term mindset.
He also runs the Stephen Jeung YouTube channel, where he publishes financial education content for individuals, families, and business owners. The channel covers indexed universal life insurance, 401(k) and 403(b) rollover strategies, IRS Code §7702, fixed index annuities for retirement income, and other topics most advisors won't explain in plain language.
Professional Standards
Stephen is committed to ongoing education and is active in leading industry organizations. He stays current on tax law, retirement legislation, and product innovations across all 70+ carriers his firm represents — so his clients always receive guidance reflecting the most current options available.
Jeung Agency holds a 5-star Google rating and serves clients across all 50 states.
Frequently Asked Question
Ready to Talk?
Stephen offers a free, no-obligation consultation by phone, Zoom, or in-person at the Los Angeles office.
Office
5670 Wilshire Blvd
Los Angeles, CA 90036
YouTube