This study adopts a socio-ecological approach to examine multiple factors and processes assumed to shape the intergenerational transmission of social disadvantage, including influences of social change, social causation and social selection. Moving beyond approaches focusing on cumulative risk indices, this study uses latent class analysis to examine how different socio-economic and psycho-social risk factors combine within families and to what extent and how constellations of risk are transmitted from one generation to the next. We draw on data collected for the longitudinal and national representative 1970 British Cohort Study, comprising information on more than 11,000 cohort members and their parents. We identified four distinct risk configurations among the parent generation (G1): low-risk families (57.6%), high-risk families (16.3%), high-risk single-parents (24%) and ethnic minority families (2.1%). Within their offspring (G2) we identified five distinct risk configurations: low-risk families (62%), low-risk no-children (15.1%), moderate-risk single parents (10.1%), moderate-risk large families (8.9%), high socio-economic and high psycho-social risk (4%). There is evidence of structural mobility, and the findings suggest that intergenerational transmission of disadvantage is not just a systemic tendency towards social reproduction, but also reflects processes of social change and social selection. We conclude that a socio-ecological model provides a useful framework for a more comprehensive understanding of the multiple processes involved in the transmission of inter-cohort inequality.