 He was educated at the Taft School in Watertown, Connecticut followed by Yale University in New Haven, Connecticut from 1926 to 1928.

before becoming an investment broker and a member of the New York Stock Exchange.In 1929, he was a founder of the investment brokers, Paige, Smith, and Remick, serving as senior partner until 1937 and remaining a member for more than 60 years.In 1941, President Franklin Roosevelt appointed Smith as special assistant in the Office of Production Management (later War Production Board).