Also called the "Great White Brotherhood". A group of spiritual leaders who formerly lived on earth and who now allegedly communicate spiritual truths through channeling or other occult means. Ascended Masters are said to include Jesus, Moses, Buddha, Ramtha, Saint Germain, Maitreya, etcetera.
Through Christ and the putting on of that Mind which was in Christ Jesus, Ascended Masters have mastered time and space and in the process gained the mastery of the self in the four lower bodies and the four quadrants of Matter, in the chakras and the balanced Threefold Flame. An Ascended Master has also transmuted at least 51 percent of his karma, fulfilled His Divine Plan, and taken the initiations of the Ruby Ray unto the ritual of the Ascension -- acceleration by the Sacred Fire into the Presence of the I AM THAT I AM. Ascended Masters inhabit the planes of Spirit, the Kingdom of God (God's Consciousness), and may teach unascended souls in an etheric retreat or in the etheric cities on the etheric plane (the Kingdom of Heaven).
Elizabeth Clare Prophet, and Mark L. Prophet, "Saint German on Alchemy: For The Adept in the Aquarian Age", Second Edition, Summit University Press, Livington, Montana, 1986, page 361.
"Friends in High Places" - The Ascended Masters (PRO) As explained on the site of the Church Universal and Triumphant