A prosthetic mitral valve assembly includes a valve component formed with a radially expandable frame and a valve structure supported inside of the frame. In one embodiment, the prosthetic mitral valve assembly further includes an expandable anchor having an annular base. A plurality of cantilevered fixation members extend from the base of the expandable anchor. The fixation members of the expandable anchor are adapted to rotate relative to a longitudinal axis as the valve component is radially expanded within the base of the expandable anchor. As the fixation members rotate, native mitral valve leaflets are securely captured between the fixation members of the anchor and the valve component.