DAC recommendation

I don't think you need a new DAC. The difference you are hearing is Spotify streams MP3's and you're playing redbook CD's on your Rotel. A better comparison would be use the digital output of the Rotel to the Parasound's DAC and see how that sounds compared to the Rotel. If you want CD quality streaming check out Tidal.

You don't see many of them come up for sale, but if you could snag a Mytek Brooklyn DAC (the original model), that might be something to consider.
It does MQA, is basically a "pre amp", has inputs for a turntable, excellent headphone amp and a very good ESS DAC chipset.

I have two recommendations, both of which I'd think would bring noticeable improvements over the DAC in your P5.  They would be the Metrum Hex DAC and the Bel Canto DAC3 VB.  Both of these DACs have been favorably compared to much more expensive competitors.

I had the Bel Canto in my system on extended demo (the separate power supply makes a huge improvement as I also had the non-VB version for direct comparison) and it sounded incredibly good to the point where I could not identify any weakness in its presentation and there was absolutely nothing I would've changed in what I was hearing.  It just sounded natural and right.  I'm sure you'd be impressed with its performance, but the only thing I don't know is how it compares to the NOS DACs out now.  Which brings me to the Hex DAC.

Although I've not heard it, the stellar reviews of the NOS Hex attest to this DAC's performance level and capabilities.  My semi-educated guess is that the Bel Canto would present a lighter and more crystal clear view into the recording while the Hex would probably deliver a tonally meatier and weightier presentation with perhaps just a bit less air and sparkle up top.  Red wine versus white wine as it were.  Pick one depending on your own personal tastes and I'd think you'd be a very, very happy camper.  The Bel Canto is available here, and the Hex is on Ebay from an authorized dealer.  Hope this helps, and best of luck in your search. 

Thx for all the suggestions. I also read some good things about border patrol DACs so I think I have a good starting point for some research. For the ? above I’m finding the cd’s sound better than the DAC streaming. I will do some more in depth a/b listening between a cd and the streaming but I’m pretty sure there is a significant difference in sound quality. I will also try to hook up the rotel digitally thru the prarasound dac to see if there’s any difference. 

klerxst. 
You said you found cd's sound better than streaming, and that can be true. I use a Bluesound Node 2 streamer with the Ayre Codex dac. Connect the two with a Wireworld Super Nova 7 optical cable and then connect the Codex to my amp with balanced interconnects. This combo easily beats my Cambridge 851-C cd player. I value this cd player highly, but it is outperformed by my streaming set up. FWIW.