Trim fat from steaks. Heat a large skillet over medium-high heat (if possible do not use a nonstick skillet). Add 1 tablespoon of the butter; reduce heat to medium. Cook steaks about 3 minutes per side or until medium-rare (145 degrees F). Transfer steaks to a platter. Cover with foil; let stand for 5 minutes while preparing sauce.
Drain fat from skillet. Add wine, beef broth, and shallot to the hot skillet. Using a wire whisk, stir and scrape up any browned bits in the bottom of the skillet. Cook over medium heat for 3 to 4 minutes or until liquid is reduced to about 2 tablespoons. Reduce heat to medium-low.
Stir in cream; stir in the remaining 4 tablespoons butter, 1 tablespoon at a time, whisking until butter is melted and sauce has thickened slightly. Season to taste with salt and white pepper. Serve sauce over steak.