How Much Abstract Algebra Do I Really Need to Know for Operator Theory/Algebras

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My main interest has always been functional analysis but I've reached a wall where it feels like the next step to really understand it is going really deep into operator theory, which seems to rely heavily on algebraic concepts. I definitely want to expand my knowledge base in algebra for it's own sake but being able to do so in the context of functional analysis would be doubly awesome. Basically I want to know whether I could just crack open a text on operator theory and be able to understand it as an extension of the basic group-ring-vector space type constructions or would I be totally lost? If the former is the case, are there any good texts that do not presume an advanced understanding of abstract algebra?

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In my experience, deep algebraic knowledge is a huge asset, but not a requirement.