An Ascended Masters is a soul who has existed on the Earth in human form and yet through discipline, mastery and awareness they have balanced their emotional and mental bodies to exist in harmony and peace with the Creator. With realisation of himself/herself as their truth and an aspect of the Creator they are able to shift to resonate with the Creator accepting enlightenment and seeing through the illusions of the Earthly reality.
In the past once ascension was achieved by an individual they would leave their physical body to return to the inner planes to be of service. In our current stage of ascension many people are achieving a level of mastery which brings forth self realisation and enlightenment however they are choosing to remain on the Earth in their human bodies to continue to distribute the light and support the ascension of others.
The Ascended Masters currently existing on the inner planes are equal to us upon the Earth, we are all playing a vital role in supporting all of humanity in remembering their divinity. These beings hold a great volume of knowledge and are acting as guides to us all from the spiritual levels and inner planes. They are wonderful guides as they have existed on the Earth understanding the challenges of reality and the initiations of ascension and healing which we are all moving through now.