What is the difference between financial planning and wealth management?

Wealth Management comes after Financial planning and is a more sophisticated cultural Financial term associated with higher middle class or rich people of society . According to me Wealth Management only comes into effect when people have 7 digit INR or greater than 10 lakh worth of Investments in diversified Financial Instruments like equities, bonds , golds , mutual funds , alternative Investment funds etc. For people who have only 1-10 lakh Investments need not have a designated Wealth Management for advise as advisory fees of Wealth Manager will be huge as percentage of his or her fund to be managed . Financial planning is associated with each onevof us starting from managing household expenses , savings , purchases etc. Wealth Management is associated with the mamagement of the fund remaining after all necessary expenses have been dealt with. This is the fund which sn individual can safely park for future wealth creation for enjoying in long term or for next generation's education or career progressiveness or post retirement plans . read less