The reporting will feature disclosure of the embedded costs of owning funds, including management expense ratios (MERs), trading expense ratios (TERs) and fund expense ratios, which are the sum of MERs and TERs, in both dollar and percentage terms.TCR is intended to provide investors with greater fee transparency. As investors gain awareness of what they’re paying, advisors and firms risk losing clients — unless they can demonstrate their value proposition.“At the end of the day, cost is only an issue when ...