Structural equation modeling techniques were used to test a conceptual framework for improved understanding of the relationships involved in adolescent risk and protective factors. Specifically, the model examined the direct and indirect associations, via adaptive coping strategies, that acute life stressors and contextual support and conflict have with psychological adjustment (internalizing and externalizing symptoms) and school competencies (GPA, classroom-conduct scores, and peer ratings of social competence). Participants were 304 inner-city Latino 6th- and 7th-grade middle school students (133 boys, 171 girls). Results found both acute stressors and social conflict to be positively associated with psychological symptomatology and negatively associated with school competencies.In addition, both social support and adaptive coping strategies were negatively associated with symptomatology; social support was positively associated with school competencies. Moreover, support and conflict were associated with psychological symptomatology and school competencies indirectly, mediated by adaptive coping strategies. Adaptive coping strategies were inversely related to school competencies, an unexpected finding. Implications, limitations, and future areas of study are discussed.