Smart man dressed in lace (4)

I believe the answer is:

alec

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'smart man' is the definition.
(as in the phrase 'smart Alec')

'dressed in lace' is the wordplay.
'lace' anagrams to 'ALEC'.
Though, I'm not sure how the anagram is indicated.

Can you help me to learn more?

(Other definitions for alec that I've seen before include "Sir -- Guinness, actor" , "Sir - Douglas-Home, former PM" , "Smart man?" , "Actor Guinness is smart" , "Smart ..., he thinks he knows everything" .)

I've seen this clue in The Globe and Mail.

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