You need to fire this adviser, pronto. The fees are a rip off. No doubt the fees on the other funds he sells you are a rip off as well. Start analyzing his behavior by asking yourself these questions.
1. How long has this adviser been managing your money? How has he performed relative to a simple low-cost three fund portfolio or a conservative managed fund such as Vanguard's Wellington or Wellesley?
2. Do you understand what this investment is and if/when it might be appropriate in someone's portfolio? Is there a lot of hand waving rather than explanation?
3. What is his reason for including this in your portfolio? Will it benefit you or him more?
What he is likely selling you is a story about how he can do better than the market by using these expensive "tools." Make him show his results over say 10 or 20 years. Fund names, their fees, and his fees netted out included. It's highly unlikely he performed as well as a simple index fund approach with a reasonable asset allocation has over time.
In your shoes, I would fire him and move on.