It consists of two members the driving and driven member as shown. The driving member is attached to the engine and the driven member to the transmission shaft.
The two members do not have any direct contact.
Torque converter is as shown in the figure a.
The construction is very similar to that of the fluid flywheel expect for an additional stationary member called stator.
All the members have blades or vanes of specific shape.
Even though the construction is similar, the operation is not.
The fluid flywheel transmits the same torque as given as given to it by the engine shaft whereas the torque converter increases the torque in the ratio of 2:1 or 3:1.
Thus the torque converter serves the same purpose as that of the gearbox whereas the fluid flywheel merely acts as a hydraulic coupling transmitting the same torque and power as that of the engine input.