Two heterogeneous catalysts, MNP@SiO2-N-Xantphos/Rh(I) and MNP@SiO2-NH-C-scorpionate/Fe(II), were prepared by reaction of chloro-functionalized MNP@SiO2 with N-Xantphos and amino-functionalized MNP@SiO2 with iron(II)/C-allyl-scorpionate through nucleophilic substitution and hydroaminomethylation reactions, respectively. All catalysts were characterized using standard spectroscopic means, transmission electron microscopy (TEM), thermogravimetry (TG), and inductively coupled plasma optical emission spectrometry (ICP-OES). An active and highly selective one-pot hydroformylation/acetalization homogeneous system for the transformation of terminal and highly substituted olefins (including terpenes) onto ethyl acetals is described. A synergic effect of bimetallic Rh(I)/P and Fe(II)/C-scorpionate catalysts is disclosed for the first time. The further sequential use of the heterogeneous catalysts, MNP@SiO2-N-Xantphos/Rh(I) and MNP@SiO2-NH-C-scorpionate/Fe(II) in hydroformylation/acetalization reactions allows the direct transformation of olefin onto ethyl acetals, keeping the activity and selectivity. Both catalysts were easily recovered by magnetic separation and reused with negligible loss of activity/selectivity, after six reutilization cycles.