After his retirement from playing, Wallace spent the rest of his life coaching youth soccer teams.
[1] In 1980, he moved to the United States to sign with the Tulsa Roughnecks of the North American Soccer League.
[6] On 23 December 1989, the Stars traded Wallace to the Kansas City Comets in exchange for Kia and Gerry Gray.
In January 1991, he signed with the Tulsa Renegades which were in the midst of the 1990–91 Sunbelt Independent Soccer League season.
[10] In December 1994, the Wichita Wings signed Wallace to a short-term contract after the team was decimated by injuries.
He left behind his wife Krisiti, son Daniel, daughter Sophie, and step-daughters Stephanie, Stacie and Sydnie.