As CEO of MassMutual Chicago (formerly Water Tower Financial Partners), Ric Alfonso is highly regarded as one of the financial planning and insurance services leading professionals. His team of professionals strives to provide the highest quality of financial expertise and superior service to clients. These clients include some of the area’s leading corporations and businesses.
He credits his agency’s growth and success to his team’s dedication for excellence in serving their clients. Prior to forming Water Tower Financial Partners in 2005, Mr. Alfonso was a leading Managing Partner with New York Life Insurance Company from 1989-2005.
The faith, values and beliefs that Mr. Alfonso embraces are largely an influence of his journey and experiences growing up. He was born in Cuba in 1959, during the height of the Cold War. In 1967, his parents made the sacrifice to leave Cuba and escape from Communism in order to come to the United States and establish a better life for their family.
Mr. Alfonso grew up in the inner city of Chicago, and through education and sports and work ethic he adapted to the American culture. He is a graduate of Carthage College in Kenosha, Wisconsin, where he majored in political science. This academic experience provided him with a global perspective that he has used in the strategic directions of WTFP. At Carthage College, he played outfield on the baseball team and goalie on the soccer team. Currently, he resides in North Barrington, Illinois, with his wife of over 30 years, Tracy, and their three children - Kristine, Ricky and Timothy. Mr. Alfonso has demonstrated a passion for working with various youth sports by coaching youth baseball, hockey and soccer teams.
Mr. Alfonso has received many prestigious honors and awards. Some of those accolades include:
- The GAMA International Master Agency Award in 2002, 2003 and 2004.
- The International GAMA Management Award at the Diamond level in 2006, 2007, 2008, 2009, 2010, 2011, 2012 and 2013.
- Currently serves on the Massachusetts Mutual Life Insurance Company’s General Agents Advisory Council.
- MassMutual Chairman’s Trophy Award in 2007, 2008, 2010, 2011 and 2012.
- The New York Life President’s and Chairman’s trophies in 1998-1999, which recognizes the top agency in growth of new organization growth, as well as overall agency growth.
- He was a Charter Member of the New York Life Managing Partners Advisory Council in 1995, and the first Managing Partner to be re-elected by his peers.
Mr. Alfonso is often called upon to speak at industry meetings and seminars. He has also taught industry classes, including the ATMC. He was a board member of the Chicago NAIFA Region from 2006-2009 and has been a member of NAIFA since 1992. He has also been a member of GAMA International since 1992 and attends Willow Creek Community Church.
Area(s) of Focus
- Insurance Strategies
- Investment Strategies