The low-lying spectra of heavy nuclei are investigated within the quasiparticlephonon model. This microscopic approach goes beyond the quasiparticle random-phase approximation by treating a Hamiltonian of separable form in a microscopic multiphonon basis. It is therefore able to describe the anharmonic features of collective modes as well as the multiphonon states, whose experimental evidence is continuously growing. The method can be put in close correspondence with the proton-neutron interacting boson model. By associating the microscopic isoscalar and isovector quadrupole phonons with proton-neutron symmetric and mixed-symmetry quadrupole bosons, respectively, the microscopic states can be classified, just as in the algebraic model, according to their phonon content and their symmetry. In addition, these states disclose the nuclear properties which are to be ascribed to genuine shell effects, not included in the algebraic approach. Due to its flexibility, the method can be implemented numerically for systematic studies of spectroscopic properties throughout entire regions of vibrational nuclei. The spectra and multipole transition strengths so computed are in overall good agreement with the experimental data. By exploiting the correspondence of the method with the interacting boson model, it is possible to embed the microscopic states into this algebraic frame and, therefore, face the study of nuclei far from shell closures, not directly accessible to merely microscopic approaches. Here, it is shown how this task is accomplished through systematic investigations of magnetic dipole and, especially, electric dipole modes along paths moving from the vibrational to the transitional regions. The method is very well suited to the study of well-deformed nuclei. It provides reliable descriptions of low-lying