Kaplan Schweser vs Mark Meldrum (2025): Which CFA Prep Is Right for You?
This is the comparison every CFA candidate researches: the industry incumbent Kaplan Schweser versus the value disruptor Mark Meldrum. Both have helped thousands of candidates earn the charter, but they take fundamentally different approaches.
After analyzing pricing, features, teaching styles, and user feedback, here’s our comprehensive verdict for 2025.
Quick Comparison
| Provider | Rating | Price | Key Features |
|---|
Teaching Philosophy: The Core Difference
This is where the two providers diverge most significantly.
Kaplan Schweser: Efficiency First
Kaplan’s approach is exam-focused efficiency. Their legendary SchweserNotes condense the 3,000+ page CFA curriculum into ~1,200 pages of essential material. The philosophy:
“You don’t need to become a finance professor. You need to pass the exam.”
Strengths:
- Faster to complete
- Clear, bullet-pointed study notes
- Time-tested exam-taking strategies
- Ideal for experienced finance professionals
Weaknesses:
- May leave conceptual gaps
- Less helpful for career application
- Some candidates memorize without understanding
Mark Meldrum: Deep Understanding
Dr. Meldrum teaches like a university professor, building concepts from first principles. His lectures answer “why” as often as “what.”
“He doesn’t just tell you what he knows. He tells you HOW to know what he knows.”
Strengths:
- Deeper conceptual mastery
- Better preparation for Level 2 and Level 3
- Stronger foundation for your career
- Ideal for career changers or those with weak backgrounds
Weaknesses:
- Takes longer to complete
- Can feel overwhelming
- Requires more self-discipline
Kaplan helps you pass the exam efficiently. Mark Meldrum helps you understand finance deeply. Both approaches lead to the charter, but they serve different candidate types.
Video Content Comparison
Kaplan Schweser Masterclass
- Style: Instructor-led slide presentations
- Hours: ~60 hours per level
- Quality: Professional but somewhat dry
- Format: Follows SchweserNotes structure
Kaplan’s videos are functional supplements to the written materials. They’re designed for review and clarification, not as primary learning tools.
Mark Meldrum Lectures
- Style: University-style teaching with whiteboard
- Hours: 100+ hours per level
- Quality: Excellent explanations, improving production
- Format: Covers every LOS comprehensively
MM’s videos are the core product. Dr. Meldrum has a gift for explaining complex topics (derivatives, pension accounting, econometrics) in accessible terms.
Winner: Mark Meldrum for video quality and depth. Kaplan for efficiency.
Study Materials Comparison
SchweserNotes (Kaplan)
The industry standard for condensed CFA study notes:
- Format: Print + digital + audio
- Length: ~1,200 pages per level
- Quality: Exceptional exam focus
- Extras: QuickSheet formula summary
If you’re a reader first, SchweserNotes are unmatched.
Mark Meldrum Notes
- Format: PDF lecture notes only
- Length: Varies by topic
- Quality: Good but secondary to videos
- Extras: Formula sheets included
MM’s notes are designed as lecture companions, not standalone study materials.
Winner: Kaplan Schweser for text-based materials.
Question Bank Comparison
Kaplan SchweserPro QBank
- Thousands of practice questions
- Slightly easier than actual exam (builds confidence)
- Customizable quizzes by topic
- Performance tracking
Mark Meldrum QBank
- Thousands of practice questions
- Good difficulty calibration
- Peer benchmarking
- Flag for review feature
Both QBanks are comprehensive and effective. The main difference is Kaplan’s slightly easier difficulty, which can be a double-edged sword.
Winner: Tie
Mock Exams Comparison
Kaplan Mock Exams
- Known for difficulty (often harder than real exam)
- Excellent predictor of actual performance
- Multiple full-length exams included
- Realistic exam interface
Kaplan mocks have a reputation for being tough—if you pass them, you’re ready.
Mark Meldrum Mock Exams
- Good difficulty calibration
- Multiple exams included
- Performance comparison vs peers
- Detailed explanations
Winner: Kaplan Schweser by reputation for mock exam quality.
Pricing Breakdown
Level 1 Pricing (2026)
| Package Level | Kaplan | Mark Meldrum |
|---|---|---|
| Basic/Self-Study | $429 | $419 |
| Essential | $799 | $709* |
| Premium | $1,099 | $1,259 |
| Ultimate | $1,499 | $1,549 |
*MM Self-Study + Applied Analysis
What You Get at Each Tier
Entry Level ($419-429):
| Feature | Kaplan Basic | MM Self-Study |
|---|---|---|
| Study Notes | Print SchweserNotes | PDF notes |
| Videos | Limited | Full lectures |
| QBank | ✓ | ✓ |
| Mocks | 2 | Included |
| Better Value | ✓ |
At entry level, Mark Meldrum provides more comprehensive video content for similar price.
Premium Level ($1,099-1,259):
| Feature | Kaplan Premium | MM Instructor-Led |
|---|---|---|
| Live Classes | ✓ | ✓ |
| Study Notes | Print + Digital | |
| Videos | Masterclass | Full lectures |
| Pass Guarantee | PassProtection | One-Fee-To-Pass |
| Mentor Support | Limited | 6 hours included |
| Better Value | Structure | Teaching |
At premium level, it’s a closer call. Kaplan offers better print materials; MM offers more teaching hours and mentor support.
If your employer is paying, both providers are reasonable choices. Kaplan’s brand recognition may matter for expense approval. If you’re paying yourself, Mark Meldrum offers better value.
Pass Guarantees Compared
Kaplan PassProtection
- Fail and get free access to next cycle materials
- Available on Premium and Ultimate packages
- Must meet study requirements
- Well-established program
Mark Meldrum One-Fee-To-Pass
- Similar concept: fail and continue free
- Available on Instructor-Led packages
- Program requirements apply
- Newer but gaining traction
Winner: Tie - Both offer meaningful protection.
Who Should Choose Kaplan Schweser?
Choose Kaplan if you:
- ✅ Prefer print materials and highlighting
- ✅ Want the industry-standard brand
- ✅ Have strong finance background already
- ✅ Value efficiency over depth
- ✅ Need maximum structure
- ✅ Employer is paying regardless of price
Who Should Choose Mark Meldrum?
Choose Mark Meldrum if you:
- ✅ Prefer video-based learning
- ✅ Want deep conceptual understanding
- ✅ Are a career changer or have weak background
- ✅ Value teaching quality over brand
- ✅ Are self-disciplined and motivated
- ✅ Are paying out of pocket (better value)
Hybrid Approach
Many successful candidates use both:
- Primary: Mark Meldrum lectures for understanding
- Supplement: Kaplan SchweserNotes for review
- Practice: Kaplan mock exams for realistic testing
This approach costs more but combines the strengths of both platforms.
The Verdict
Pros
- **Mark Meldrum wins on:** Teaching quality, video content, value for money, depth of explanation, budget-friendly options
- **Kaplan Schweser wins on:** Print materials, brand recognition, mock exam quality, structured study path, industry standard
Our Recommendation
| If You Are… | Choose |
|---|---|
| Career changer with weak background | Mark Meldrum |
| Experienced finance professional | Kaplan Schweser |
| Visual/video learner | Mark Meldrum |
| Print-first learner | Kaplan Schweser |
| Budget-conscious | Mark Meldrum |
| Employer-sponsored | Either |
| Need maximum structure | Kaplan Schweser |
| Self-motivated learner | Mark Meldrum |
Overall: Mark Meldrum edges ahead for most candidates due to superior teaching quality and value. However, Kaplan remains the safe, proven choice—especially for those who need printed materials or prefer structured study paths.
Both will help you pass. The right choice depends on your learning style, background, and budget.
Frequently Asked Questions
Is Mark Meldrum better than Kaplan for CFA?
Mark Meldrum offers better teaching quality and value for money, while Kaplan provides superior print materials and a more structured study path. MM is better for video learners and career changers; Kaplan is better for experienced finance professionals who prefer reading.
Which CFA prep course has higher pass rates?
Neither provider publishes verified pass rates. Kaplan claims 'candidates are more likely to pass' based on surveys, while MM's teaching quality is highly praised. Both providers have helped thousands pass. Your preparation consistency matters more than provider choice.
Can I use both Kaplan and Mark Meldrum?
Yes, many successful candidates combine both: Mark Meldrum lectures for understanding + Kaplan SchweserNotes for review + Kaplan mocks for practice. This hybrid approach is more expensive but maximizes strengths of both platforms.
Is Kaplan Schweser worth the extra cost?
Kaplan is worth it if you value print materials, need structured study guidance, or have employer sponsorship. If you're paying yourself and prefer video learning, Mark Meldrum offers better value for similar or better teaching quality.
Which is better for CFA Level 1?
For Level 1, both work well. Kaplan's condensed approach helps manage the broad curriculum efficiently. Mark Meldrum's comprehensive teaching builds stronger foundations for Levels 2 and 3. Choose based on your learning style and timeline.