Widely regarded as one of the best players in the Championship, former Wolves man Wallace is expected to leave Millwall as a free agent this summer.
Albion are in talks with 28-year-old to lure him to The Hawthorns.
And Millwall boss Gary Rowett wouldn’t be surprised if Smith, who played with Wallace at The Den, puts in a good word with his father-in-law.
“When Steve Bruce is Matt Smith’s father-in-law, I think you can definitely imagine that Smudge has told Steve just how good a character the player (Wallace) is,” Rowett said.
“We’re going to get all these links until Jed puts pen to paper somewhere, or here. That’s going to be ongoing until it happens.
“Realistically whoever it is is – West Brom, Besiktas, Forest – you are going to see these links.
“At some point Jed is going to make a decision to do whatever he wants to do.
“I’m pretty sure he’ll inform us whether that is re-signing for us or signing for someone else.
“I’ll be really honest, that’s sort of out of our control to a certain degree.
“We’ve spoken to Jed and told him how highly we value him.
“He’s really going to have to make that decision now, I don’t think there is much point us pestering him all summer to see what he is doing.
“We have to move forward with our plans and hope he decides that he wants to fit in with our plans also.”