Larry Rolapp, who helped build advisory firm into California mainstay, has died

Larry Rolapp, a name partner of the 60-year old California municipal advisory firm Fieldman, Rolapp & Associates, died on April 23. He was 82.

"Larry joined the firm approximately ten years after its founding and quickly became instrumental in shaping the trajectory of our business," said Adam Bauer, the firm's president and chief executive officer. Rolapp played a pivotal role in establishing the firm's presence in the community facilities district market, Bauer said, "helping to build a foundation that remains central to our work today."

Over 35 years, Rolapp "shepherded the firm through meaningful growth and evolution," Bauer said.

Longtime friend and business associate Sam Sperry called Rolapp a valued friend, consummate gentleman and a knowledgeable and reliable professional.

"I was glad to hear that Larry had died peacefully in his sleep surrounded by family," Sperry said.

Rolapp joined the firm in 1977 and became a name partner in 1980. He was instrumental in lifting the boutique firm into a powerhouse financial advisory company in California. A lot of well-known names in the muni industry, including the late Tim Schaefer, have walked its halls.

Rolapp was a mentor to both Tom DeMars, the firm's former chief executive officer, president and board president, and Bauer, who was named CEO and president in 2016.

"Larry hired me in 1988 when I was in between jobs," said DeMars.

Working for Rolapp ended up shaping the trajectory of DeMars' career.

At his previous position with an underwriting firm, DeMars was an associate who wasn't involved in client-facing work. Rolapp took him to client conferences and introduced him, so he could either aid with the work or take it on later as he gained experience.

"Larry put a good structure in place and then relied on those people to put it into play," Bauer said.

Bauer had known Rolapp since he was a child, because his mother, Robin McDonnell, who was executive director of the redevelopment agency of Riverside County, and stepfather, Paul McDonnell, a municipal advisor, had worked with Rolapp.

"I knew I wanted to get into public finance because of Larry and how he conducted himself," Bauer said.

"He was a big part of how I got into this profession," said Bauer, who described Rolapp as very ethical.

The firm, which is employee-owned, is known for its collegial atmosphere. When DeMars started at the firm, that was because the firm was relatively small and everyone had to work together on all of the firm's business and cover for each other on vacations. Today it's that way because the tone set by Rolapp was valued by Bauer and other members of the firm as something they wanted to continue as the firm grew, DeMars said.

Sperry and Rolapp had a professional relationship for the "better part of 30 years," during which they worked together on a significant number of bond deals, Sperry said. "The work we did was almost exclusively pertaining to bond issuance," he said.

They specialized in dirt bonds, or community facilities district bonds backed by special assessments related to housing projects, Sperry said, and often found themselves working on the same team. They stayed in touch after retirement.

Rolapp retired in 2009. Soon after, he and his wife moved to Tennessee to be near children, said Sperry, who retired in 2012 at the age of 70.

Rolapp's leadership was "critical to the diversification that defines our platform today," Bauer said.

Beyond his formal responsibilities, Bauer said, Rolapp was deeply engaged in the broader land-secured financing community, serving as a key leader of the Committee on Assessments, Special Taxes and Other Financing Facilities, where he brought professionals together to share insights and advance the industry.

After retirement, Rolapp's commitment to the firm remained strong; he served on the board for ten years through 2019, providing guidance, perspective, and steady leadership during an important period of transition and growth, Bauer said.

"Those who had the privilege of working with Larry will remember not only his professional contributions, but also his thoughtfulness, and dedication to his clients," Bauer said. "His impact on the firm and the industry will endure."

The company's leadership has sent flowers to Rolapp's family to express their condolences, and "we are in the process of preparing external communications to appropriately honor his legacy," Bauer said.

Funeral arrangements have not been announced.