Social-control-based deviance theories highlight parental bonding as a protective factor for problem behaviors in that bonds are viewed as reflecting the adolescent's adoption of conventional societal attitudes and values. Developmental theory and research suggest an alternative conceptualization of the linkages between family bonding and adolescent risk behaviors. This conceptualization requires concurrent examination of a range of adolescent competencies as well as consideration of parent and peer contexts. Support is found for several hypotheses derived from a developmental approach proposing: (a) positive associations between adolescent-parent attachment and adolescent competencies--autonomy, peer relationship competency, and coping; (b) coherence in the pattern of negative associations between attachment/competencies and substance use problems; and (c) a disjunctive pattern of associations with substance use reflected by positive associations with peer competencies but not with parental attachment.