You’ve likely focused most on what new compensation reports are going to tell clients, and you’re prepared for questions about your services and the value of your advice.

But what don’t the reports tell clients? You should be ready to fill in the gaps.

Here’s some information you may want to provide.

1. IFIC’s guide for mutual fund dealers says the report on charges and compensation must include the fees for all registrable securities that are distributed. But, says IFIC, while the report provides details “about the money received by [a] dealer firm over the previous year to provide services, […] it does not indicate how much is paid to the advisor from [a client’s] account.”

Why? Firms determines these amounts differently, based on their business models and how they split responsibilities between the firm and advisor. So be prepared to calculate and share this amount with clients.

Read: Best ways to report on non-securities investments

2. That same report, says IFIC, doesn’t tell clients the total cost of their investments. Instead, the report shares “the amount paid directly or indirectly through [a client’s] account to the dealer firm. For mutual funds, it doesn’t include the amount paid to the investment fund manager.”

To help clients get the full picture, tell them the mutual fund’s management expense ratio. And don’t assume they saw it on Fund Facts: those documents often represent the amount of trailing commissions as a range (in percentage and dollar terms) rather than as exact figures.

3. IFIC’s guidance on answering questions about services and fees says cost reports don’t include trading expense ratios, foreign exchange spreads or short-term trading fees. Make sure you know how to discuss these topics if clients ask. One option is to refer to Fund Facts documents.

For more on CRM2 and discussing fees, read:

More CRM2 myths busted

Investors to feel ’empowered’ by CRM2, survey indicates

Don’t miss important compliance reminders

Here’s what you pay: Explain services and fees to clients

CRM2 primer: Talk performance like a pro

5 ways to use CRM2 for better conversations

83% of advisors say fee-based model superior: survey

Investors want a best interest standard

Talk versus action on embedded commissions ban