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Welcome to the WBS&A, Ltd. Management Consulting Services Page

SME Capital Markets is a division of WBS&A, Ltd.

WBS&A, Ltd. started in 1991 to provide management consulting services that center on helping decision-makers develop entry-level capital market projects.

In addition to providing managment consulting services WBS&A, Ltd. has launched and supported several initiatives to help decision-makers focus on entry-level capital market issues.

Each initiative encompasses developing an interest group, creating information pieces and transforming content into best practices, advocacy projects and business opportunities.

The experience of launching initiatives has brought a deeper level of awareness about the importance of instilling information technology models into entry-level capital market in projects.

Awareness about the need to elevate third-party efforts to work on entry-level capital market initiatives is the driver behind creating the SME Capital Markets division as a knowledge exchange business model.

History of Major Initiatives

1992 to 1995


Organized and developed Small Corporate Offering Task force advocacy projects, developed Reg. D, 504 offering information programs and worked with regulators, the Federal Reserve Bank and economic development entities to introduce this small issuer capitalization program to the market place.




Worked with the Texas Delegation to the 1995 Whitehouse Conference on Small Business to help them work with delegates from every state to include Reg. D 504 recommendations in the final list of items that the SBA Office of Advocacy acted on. The Reg. D 504 recommendation became an SBA Office of Advocacy ACE Net project. Most private placements listing market projects that operate today derive from the regulatory policy changes that were made and implemented as part of this recommendation.


1995 to 1997


Interacted with third-party interest groups to address issues and articulate a website model that enabled selling small issuer securities offerings on the Internet.


1996 to 2007


Created information pieces, developed best practice programs, and supported business models that facilitated issuers using the SB-2 registration and 10KSB filing programs.


1996 to 2001


Served on the NASD and NASDAQ OTCBB Advisory Committees as decision-makers in each organization attempted to design and launch a third-tier small issuer market in the United States.


2000 to 2011


Guided a team through creating a system and operating a business model that supported smaller company management teams through undertaking private placements and complying with small public company regulatory regimes to raise capital, achieve public trading status and provide an exit strategy for their investors.


2002 to 2006


Developed advisory board model to provide small public company management team’s access to deeper levels of expertise than was traditionally represented on their boards of directors.

2006 to 2007


Researched and introduced solutions to help small public company management teams achieve SOX compliance. This initiative included organizing, developign and marketing a series webinars that approximately 1,000 officers and directors participated in by hearing small issuer SOX compliance experts introduce affordable ways to achieve compliance and answer questions.




Surveyed decision makers about smaller-reporting-companies capital market issues.

This initiative included identifying 14,000 small public company decision makers, including officers, directors, securities attorneys and auditors and stakeholders. 


2011 - 2012


Researched Eagle Ford Shale area energy industry ramp up and produced market intelligence to garner support for creating a business development company that is designed to invest alongside local stakeholders to create sustainable job growth in communities throughout this 24 to 30 county region.


This initiative encompasses developing relationship with economic development corporation officers and directors, city, chamber of commerce, bankers, regional economic development leaders and other key stakeholders to identify high potential projects that could be capitalized and executed in their communities.


Management Consulting Services


WBS&A, Ltd.

SME Capital Markets is a division of WBS&A, Ltd.

Brad Smith, President

3 Glenway Drive
Austin, Texas 78738


Brad Smith provides management consulting services by serving as an adviser to company owners, officers, directors, and service and solution providers.

Brad has more than 30 years’ experience as a financial service company officer, director, and adviser.

Since July 1991, Brad has operated WBS&A Ltd., a management consulting firm that helps decision makers develop and execute capital market projects. Brad's work centers on determining how secondary market support can be developed for small public companies, helping entry-level issuers undertake SEC-registered offerings, and working with company officers and directors to monetize values.


From 1979 to 1981, Brad founded and operated Marshall Homes as an affiliate of Johnstown holding and sales company. Marshall acquired affiliates apartment properties and converted them into condominiums.


From 1975 to 1981 Brad served as Vice President of Acquisitions and Sales for Johnstown Properties where he was responsible for acquiring and selling investment real estate that was owned by the nations then-5th largest REIT and more than 40 affiliate partnerships.


From 1981 to 1988, Brad managed personal investments and consulted with entities that specialized in capitalizing emerging companies.


From 1988 to July 1991, Brad was vice president of Valley Federal Savings and Loan's portfolio company division and its acquirer and successor entity, Relco Industries, where he operated an asset management division that supported the capital reserve base for the parent company’s insurance division.


Previously, Brad served on a NASDAQ Advisory Committee, founded the Small Corporate Offering Registration Task Force, and was an advisor to the Texas Delegation to the 1995 White House Conference on Small Business and actively advocated developing a better securities regulatory regime for entry-level small issuers in SEC comment letters and to policy makers and regulators.


Brad has organized, sponsored or addressed numerous capital formation conferences and is the author of "Guide to Strategic Thinking."


Brad received an MBA from Pepperdine University in 1979 and a BBA from the University of Oklahoma in 1975.

Email Brad Smith at or call 512-261-3750 to discuss management consulting projects.