Our commitment

To provide our individual and corporate clients with the very best financial solutions and independent advice, all towards achieving their ultimate financial goals and security.

Sommita Financial

About Us

We are financial planning, wealth management and group benefit experts, with over forty years of combined financial and accounting experience.

From the beginning, we have maintained our complete independence from any one financial institution or product supplier, thereby assuring our clients the best solutions to fulfill their financial needs, combined with unparalleled personalized service.

Products and Services


  • Mutual Funds and Securities

  • Segregated Funds


  • Annuities

  • Group Pensions


  • Group

  • Life

  • Critical Illness

  • Disability

  • Health & Dental


  • Tax

  • Retirement

  • Estate

  • Succession

Our Team

Mario Rapagna, CPA, Financial Planner
Mario Rapagna, CPA, Financial PlannerFinancial Security Advisor – Hub Financial and Group Benefits Specialist
After a successful career in the corporate sector as a Chartered Professional Accountant and business manager, Mario seized an opportunity in 1993 to launch his own professional practice with a focus on financial planning. His motivation for doing so was and continues to be centered upon improving the financial literacy of his clients and assisting them in achieving the important monetary goals through every stage of their personal or corporate lives. He believes this can only be done through an independent and unbiased approach, a concept he has maintained throughout his career.
Paul Rapagna, B.Comm Finance (Concordia, John Molson School of Business)
Paul Rapagna, B.Comm Finance (Concordia, John Molson School of Business)Investment Advisor – Mandeville Private Client INC. and Financial Security Advisor – Hub Financial
Paul joined Sommita in 2013 following a solid career in the transportation industry, taking advantage of and improving upon his technical and organizational skills. He shares with his senior partner the same integrity, financial philosophy, and best practice approach when dealing with our clients’ needs.
His presence and commitment ensures that our clients can count on the same degree of excellent and fully independent advice for many more years to come. Paul is sponsored by Mandeville since November 2019.


Many people finish their formal education with little to no knowledge on how to manage their finances. This can result in decision-making that can lead to mediocre results or disastrous consequences if one is not careful. Our job is to assess your financial situation and point you in the right direction based on what your defined needs are, your priorities and your budget. And when it comes to investing your hard earned money, research shows that individuals do 2.7 times better with their investments when working with a qualified advisor.

Because of our independence, we are flexible in terms of compensation. Depending on the context, it can be an hourly rate, an up-front sales charge based on the sums deposited, an embedded commission within a purchased financial product or a fee-based arrangement (‘WRAP’ account) in which we negotiate a fixed rate based on the volume of assets entrusted to us which covers all related transaction and management costs and could also include auxiliary services like accounting and tax advice.

An RRSP stands for Registered Retirement Savings Plan. It allows an individual to save up money for retirement on a tax-deferred basis while your investments grow tax-free within the plan, providing the potential for increased growth opportunities. Although your retirement may be many years down the road, it’s never too early to start planning and saving. By investing regularly in an RRSP, you can enjoy immediate tax savings as well as move steadily towards your financial goals and the retirement lifestyle you want. There is no minimum age and you can contribute if you have any declared earned income or unused contribution room, up until December 31st of the year you turn 71 (while there is no minimum age to contribute, an IIROC registrant may not open a brokerage account for a minor). To get a clear handle on what your contribution limits are, we suggest you take advantage of the online ‘My Account’ feature on the Canada Revenue Agency (CRA) website at www.cra-arc.gc.ca.

TFSA stands for Tax-Free Savings Account. As the name implies, it provides an individual who is 18 years or older with an opportunity to save up some of their take-home pay and invest it on a completely tax-free basis. Redemptions can also be made from a TFSA without any tax consequences. This program began in 2009 and the government has fixed annual contribution limits since then for every eligible Canadian resident, regardless of your earned income. These annual limits are cumulative and as of 2021, they have combined to a maximum of $75,500. Your investment options within a TFSA are virtually the same as those available for an RRSP.

No, there is no minimum age to contribute, however an IIROC registrant may not open a brokerage account for a minor.

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