Term deposits have been very effective investments in the last couple of years thanks to the high interest rates. However, with the Reserve Bank of Australia (RBA) now cutting rates, I think S&P/ASX 200 Index (ASX: XJO) stocks could be better investments in terms of boosting wealth.

Of course, term deposits are a great way to preserve wealth while generating a bit of passive income. However, for investors wanting to maximise their portfolios, term deposits aren't going to provide as big of a return with the RBA official cash rate lower.

Indeed, there are predictions that the RBA could cut the cash rate another three times over the next 12 months.

If that does happen, there are a few ASX 200 stock that I think could benefit significantly, such as the two below.

Vicinity Centres (ASX: VCX)

Vicinity Centres describes itself as one of Australia's leading property retail property groups. It has $24 billion in retail assets under management (AUM), making it the second largest listed manager of Australian retail property. The business has a direct portfolio, with interests in 51 shopping centres and it manages 24 assets on behalf of strategic partners.

When interest rates go down, it can boost operating profit because it reduces the cost of debt. A lower interest rate can also boost the underlying value of properties, which includes shopping centres.

The key asset of this business is its stake in the huge Chadstone Shopping Centre, which is a great, unique asset.

In its recent quarterly update for the three months to 31 March 2025, the business noted positive portfolio metrics were maintained and this continues to support current and future income growth.

The ASX 200 stock's occupancy remained stable at 99.4%, with FY25 year to date leasing spreads maintained at 3.5%, implying a solid rental growth rate for new rental contracts.

In terms of the sales performance of tenants, in the three months to March 2025, total portfolio retail sales were up 2.4%, with leisure, jewellery, retail services and homewares being notable outperformers.

It's also focused on acquiring "premium assets with strong growth potential at attractive pricing and divesting non-strategic assets at or above book value", meaning the value on the balance sheet.

Its last two distributions come to a distribution yield of 4.9%.

Pinnacle Investment Management Group Ltd (ASX: PNI)

I'd describe Pinnacle is a key business in the investment world – it takes stakes in funds management businesses and helps them grow. It also helps the fund manager by doing a lot of the behind-the-scenes administrative and infrastructure work, enabling the investors to focus on investing.

I like how Pinnacle has diversified its business by investing in fund managers in the northern hemisphere, as well as investing in fund managers focused on other assets than just ASX shares, such as international shares, credit and private equity.

Pinnacle's share price can be very volatile during bear markets, which I think can be a great time to gain/increase exposure to this compelling ASX 200 stock.

Pinnacle's fund managers are seeing ongoing net inflows, which I think is a very positive sign for the long-term success of the business.

If asset prices generally keep rising over the longer-term, then I think Pinnacle could be a very good investment, though I'd be aware volatility could happen.

It currently offers a grossed-up dividend yield of 4.3%, including franking credits.