Hoard also had seven rebounds and two blocks, and Childress made three of the Demon Deacons' six 3-pointers.
Cal State Fullerton had a 25-24 lead at halftime, but Wake Forest opened the second half with a 3-pointer and back-to-back 3-point plays for a 33-31 lead. It was tied at 51 with just under five minutes remaining when Wake Forest took control with a 10-0 run as Cal State Fullerton went without a field goal for three minutes. Wake Forest sealed it by making 5 of 8 free throws in the final minute.
Sharone Wright Jr. added 13 points for Wake Forest (2-1), which will play in the fifth-place game on Sunday.
Khalil Ahmad led Cal State Fullerton (1-3) with 20 points. Kyle Allman Jr. added 11 points with eight assists, and Davon Clare had 10 points and nine rebounds.