Robert Reynolds, vice chairman and chief operating officer of Fidelity Investments, thinks there could be good times ahead for the fund industry, if they play their cards right.

The upcoming boom in retirees could mean more funds for funds, Reuters reported Reynolds as saying. "If the industry gets retirement right, it will be the greatest growth the industry has ever seen," Reynolds said recently at a TowerGroup conference.

However, those approaching retirement still need to save more, said Reynolds. At the current rate of savings, there will still be a $400 billion shortfall from 2020 to 2030 between income and needs, reported Reuters.  

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